According to a Breitbart News report, Bill Gates bought 1.7 million shares of Anheuser-Busch Inbev through the Bill and Melinda Gates Foundation during the disastrous Dylan Mulvaney-Bud Light partnership.
Quick math: Gates dropped approximately $95 million bucks on the struggling beverage company.
From Breitbart News:
Over the past six months, the company’s share price has fallen nearly nine percent, the New York Post reported. In the past five days, the stock has been down over three percent.
Sales have been on a steady decline since Dylan Mulvaney flaunted the customized Bud Light can with his face on it on April 1. As Breitbart News reported at the time, the nationwide backlash against this marketing disaster vaporized $6 billion in market value.
Gates’ acquisition of 1.7 million shares reveals that he sees the beer giant making a comeback with consumers following its ill-fated advertisement campaign with trans gender activist Dylan Mulvaney.
Morgan Stanley analyst Sarah Simon told TipRanks the beer giant’s growth in emerging markets like in the Asia Pacific region limits the impact of the U.S. share loss.
After one-off costs in 2023, we see profitability growth resuming in 2024, with strong cash flow growth driving leverage to the target 2.0x, allowing for both an increase in the payout ratio as well as the resumption of share buybacks from 2026,” Simon told TipRanks. “Current valuation fails to reflect this upside, in our view.”
More over at Breitbart News:
— Breitbart News (@BreitbartNews) September 6, 2023
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