JP Morgan Downgrades Target Stock as it Continues to Hit New 52 Week Lows amid Backlash

On Thursday, JP Morgan downgraded Target stock from “overweight” to “neutral” as the stock is on its longest losing streak in 23 years. JP Morgan cited “too many concerns rising” in relation to the retailer.

The downgrade comes amid a boycott of the discount retailer over their pro-trans and LGBTQ+ collection that included clothing for children and infants.

Wednesday marked the lowest close for the stock since August 11th, 2020. It had closed down 2.2%. Wednesday’s close marked the ninth straight day of decline, something the stock hasn’t seen since an 11-day stretch in February of 2000.

According to the Post Millennial, Target has lost $12 billion in market share loss amid the backlash against the company’s Pride collection.

Yahoo Finance Screenshot

Twitter user Tomy Robinson shared a video of an empty Target and noted, “Target is eerily empty at 5pm. Never let anyone tell you that boycotts don’t work.”

 

 

While Target removed items associated with a satanic pro-trans designer, the company made no apologies for their partnership. Target then cited the safety of employees as the reason for removing the items.

Another Target partner posted to Instagram about the removal of some of their collection and blamed “domestic terrorists” in the post. Apparently choosing to shop elsewhere is terrorism to leftists, while, in the opinion of some of them, rioting and looting is just “equity”.

 

 

An internal Target memo revealed that the retailer views those boycotting them as “extremists” who may be violent.

“An internal Target memo attempts to paint those boycotting Target as “extremists.” News flash Target, we’re not the extremists here, your flagrant profiteering off of selling groomer merchandise to kids is extreme. But go ahead, double and triple down. See how that works out.”

 

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It seems that Target is playing the victim after choosing to provide LGBTQ merchandise for children and partnering with satanic designers. They have affirmed their support of the LGBTQ community while condemning those who boycott them.

By Hunter Fielding
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