Coors stock surges 9% after backlash to Bud Light’s Dylan Mulvaney campaign

Shares of Coors’ parent company have soared by nearly 9% since rival beer Bud Light announced it was partnering with transgender social media influencer Dylan Mulvaney for an ad campaign that has raised hackles nationwide.

The stock price of the Molson Coors Beverage Co. was trading at $51.68 a share at the end of last month.

Since then, however, its share price has climbed to $56.25 — an increase of more than 8.8%.

The Post has sought comment from Molson Coors and Bud Light’s parent company Anheuser-Busch.

Mulvaney, who has more than 10 million followers on social media platforms including TikTok and Instagram, revealed on April 1 that she would be pitching Bud Light beer.

Anheuser-Busch sent Mulvaney, who gained a mass following online during the pandemic when she chronicled her journey from a man to a woman, a specialized can with her likeness on it to commemorate one year since she transitioned genders.

But the ads were not well-received by conservatives who claim that the partnership tarnished the brand of an iconic American beer.

The campaign sparked calls for a boycott of the beer, including from celebrities such as Kid Rock and country singer Travis Tritt.

Marjorie Taylor Greene, the GOP congresswoman, announced last week that she was switching from Bud Light to Coors.

“I would have bought the king of beers, but it changed it’s gender to the queen of beers,” she said on Twitter.

“So it’s made to chill from here on out.”

The post included a photo of a 24-can case of Coors Light.

Taylor Greene was mocked, however, after online users pointed out that Coors has unveiled its own LGBTQ ad campaign.

On Friday, the CEO of Anheuser-Bush released a statement that included an apology, though critics said it did not go far enough.

“We never intended to be part of a discussion that divides people,” Anheuser-Busch InBev CEO Brendan Whitworth said in press release titled “Our Responsibility To America.”

“We are in the business of bringing people together over a beer.”

Over the weekend, Budweiser unveiled a patriotic-themed advertisement featuring its famous Clydesdale horses traversing the country from New York to the Grand Canyon.

“This is a story bigger than beer,” the ad’s narrator says in the ad. “This is the story of the American spirit.”