Beer giant Anheuser-Busch, the creator of Bud Light, has seen its value plummet more than $5 billion since March 31, days after launching its controversial advertising campaign.
The company's market capitalization has fallen from $132.38 billion to $127.13 billion, or nearly 4% of its shares, since partnering with male- to-female transgender TikTok star Dylan Mulvaney.