Bud Light is no longer king of beer as sales continue to plummet. Meanwhile, its rival, Modelo Especial, has taken the No. 1 spot.
Bud Light’s sales dropped 24% after its controversial partnership with trans activist Dylan Mulvaney, and overall sales for the brand have been on a slow decline.
Modelo has enjoyed a roughly 12% increase in recent sales and expects a continued growth over the summer.
But Bud Light isn’t the only major brand struggling. Target’s stocks have fallen to a three-year low after pushback against the company marketing LGBT merchandise to children. Bank of America recently lowered the retailer’s share prices by $35 dollars.