Modelo passed Bud Light, which has been the subject of a boycott by conservatives.
It recently took the crown from Bud Light, which saw its market share drop to 7%.
"Modelo and Michelob Ultra (another Anheuser-Busch brand) both were on track to eventually overtake Bud Light," Maloney wrote, citing long-term market share data.
"Everybody kinda figured Bud Light was getting hit by that boycott, so it fell out of No.
But Neil Reid, a professor at the University of Toledo who studies the beer industry, told Reuters that the Bud Light boycott is lingering longer than expected.
Persons:
Bud Light, El Rey, Bump Williams, influencer Dylan Mulvaney, Jennifer Maloney, Bud Light's, Maloney, Jack Hough, Light, Hough, Corona, Neil Reid
Organizations:
Modelo, Service, Anheuser, Street Journal, Busch, Fox, Northwestern University, University of Toledo, Reuters, Bud Light
Locations:
Wall, Silicon, El, Modelo