Anheuser-Busch InBev's Bud Light nightmare won't last forever, according to Deutsche Bank.
Anheuser-Busch's U.S.-listed shares are down nearly 15% in the second quarter, driven largely by consumers fleeing the Bud Light brand over a collaboration with transgender influencer Dylan Mulvaney.
BUD 3M mountain Bud Light stock has dropped nearly 15% in the second quarter.
"Our proprietary dbDIG survey data suggests that 24% of Bud Light consumers no longer buy the brand with another 18% buying less.
The company is slated to report second-quarter earnings in early August, and Collett expects the Bud Light parent to reduce or remove its full-year guidance.
Persons:
Busch, Bud, influencer Dylan Mulvaney, Mitch Collett, Bud Light, Collett, — CNBC's Michael Bloom
Organizations:
Anheuser, Deutsche Bank, €, Busch's, Bud Light, Bud, Busch InBev
Locations:
Busch's U.S, U.S, Mexico, Brazil, China