Another day of losses for Target shareholders.
But another day of victory (and visibility) for Target "stakeholders."
More on that in a bit.
12.8 billion (and counting) reasons to re-think hiring and marketing practices?
Shares of retailer Target fell as much a 3.8% on Tuesday, extending losses to an eighth session which brought the company's share price to its lowest intraday level since August 2020.
JPMorgan downgraded its outlook on Target's stock from a "neutral" rating to "overweight." Prior to the retailer coming out last week as satanic child groomers, JPMorgan had Target listed at a price target of $182. After the retailer came out of the closet as satanic child groomers, JPMorgan dumped that to just $144.
Hope you are enjoying your Pride Month, Target:
"We continue to believe that the consumer is broadly weakening while the share of wallet shift away from goods (51% of [Target's] sales) is ongoing," wrote JPMorgan analyst Christopher Horvers. "While still positive on a [three-year] basis, [Target] has been giving back share on a [one-year] view and we believe this share loss could accelerate into back to school and linger into holiday given consumer pressures and recent company controversies. This could turn [Target's] traffic negative after an impressive run of 12 consecutive positive quarters.""Target is facing consumer pressures and the effects of recent controversies," JP Morgan said.
I sure hope so.
Target is also facing its "longest losing streak in 23 years." Lol.
How's your Pride Month going so far, Target?
So far, my Pride Month has been pretty awesome.
On May 24, the Target stock price was $143. Today it's down to $130.
But remember, Blackrock, Vanguard, and Obama's other corporate socialist suckbuddies have engineered an economy based on "stakeholder capitalism" -- not shareholder capitalism, but "stakeholder" capitalism, in which everyone -- from the workers to the gays who have nothing at all to do with the company -- is of a higher priority than the actual owners of the company.
"Stakeholder capitalism" -- true name, corporate communism -- claims that everyone has a "stake" in a company. Everyone. A "stake" is an intangible, non-monetary interest.
Every person in the LGBTQ Mafia has a "stake" in Target whether or not they shop there, and whether or not they own stock. Their "stake" is a general stake in whether or not corporations act as "allies" and provide "visibility" -- mainstreaming -- to their groomer causes.
So Blackrock, Vanguard, and Obama's cadre of well-heeled radicals have invented a theory of fiduciary duty in which there is little to no duty owed to those with an actual financial stake in the company, and a major duty owed to those who don't have a stake in the company.
And you can't sue them for mismanagement or misappropriation of shareholder value because this theory says, "You don't have a special privilege just because you own Target stock. Target owes a more important duty to Trans Five Year Olds, who must be 'validated' and made to feel 'seen' by us stocking baby-sized 'Ask Me About My Pronouns' onesies. We have to weigh our (limited) duty to shareholders against our much more important duty to 'stakeholder.'"
Don't like that Target is destroying your value, Target shareholders? Well shut up bigot, and suck a Lady Penis, because Dylan Mulvaney and Lia Thomas are "stakeholders" in Target and xeir feelings are more important than your dirty monetary stake in the company.
Below, Midnight's Edge explains "stakeholder capitalism," which is a euphemism for "socialism."
If it seems like companies are no longer attempting to please their customers or their shareholders -- you have interpreted the situation correctly.
They now consider customers and shareholders to be disfavored groups of very low priority. The important groups they are trying to please are "the oppressed" and "the marginalized," even if they have nothing to do with the company, even if they do not buy its projects, even if they do not invest in it.
This isn't a mistake -- it's the entire intent of Stakeholder Socialism.
Skip to 17:13 to hear about "stakeholder capitalism." The beginning just talks about Disney producing one bomb after another, destroying shareholder value -- and calling themselves heroes for doing so. And then he talks about ESG and lines of credit being conditioned on keeping a high ESG score. And then he plays a clip of Bob Iger telling a shareholder who is sick of Disney's money-burning woke agenda that no, Disney will never abandon its commitment to "improving the world" and "increasing tolerance," even if that costs shareholders money.
In the last bit of the video, Blackrock founder Larry Fine talks about his philosophy of "forcing" people into leftwing social change. He says "force" about six times in two minutes. He's proud to use his economic clout to force people to be leftists.
Content warning for more "stakeholder capitalism," as British Glamour magazine shows off a pregnant woman who had her breasts lopped off and claims to be a "man."
Hey, if you were going to have a child, maybe you should have kept your breasts, maybe?
Does your child have any "stakeholder" interest in your breasts, I wonder? Or is he just a measly shareholder?