Target has faced an intense anti-LGBTQ+ backlash against its Pride collection.
Target Corp.’s stock is up 1.4% Friday after snapping its longest losing streak in 23 years amid an anti-LGBTQ+ backlash against the retail giant.
The stock ended Thursday’s session up 0.2% to snap the losing streak. Target TGT shares had ended Wednesday’s session down 2.2%, marking their ninth consecutive decline, and the stock’s longest losing streak since an 11-day stretch that ended Feb. 24, 2000, according to Dow Jones data. Wednesday also marked the stock’s lowest close since Aug. 11, 2020.
Target... Target Corp.’s stock is up 1.4% Friday after snapping its longest losing streak in 23 years amid an anti-LGBTQ+ backlash against the retail giant. The stock ended Thursday’s session up 0.2% to snap the losing streak. Target TGT shares had ended Wednesday’s session down 2.2%, marking their ninth consecutive decline, and the stock’s longest losing streak since an 11-day stretch that ended Feb. 24, 2000, according to Dow Jones data. Wednesday also marked the stock’s lowest close since Aug. 11, 2020.
Target was downgraded to neutral from overweight Thursday by JPMorgan, which the impact of “consumer pressures and recent company controversies” about the retail giant.The company is facing an anti-LGBTQ+ backlash against its Pride collection in recent weeks. On Thursday — the first day of Pride Month — a group of protestors demonstrated against the Pride collection outside a Target store in midtown Miami, according to WPLG Local 10.
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