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Shares of Target Corporation Common Stock (TGT) have fallen from $84.14 a share on April 19 to $79.27 a share as of Friday evening, 10 days after the transgender policy was enacted.
The stock price had fallen by 2.52 percent on Friday alone, as of 4 p.m. Ultimately, the drop “would represent a corporate loss of over $2.5 billion,” according to the Family Policy Institute.
Target has seen a dip in people who say they’d consider shopping there the next time they need something, according to data compiled by YouGov BrandIndex, a research company that conducts daily surveys measuring brand perception.
Before Target made its policy public last week, 42% of people said they would consider shopping there the next time they needed something. As of Wednesday, that number had dropped to 38%, which YouGov CEO Ted Marzilli says is a “significant” shift.
I don’t think it’s a statement that people aren’t in favor of equal rights for transgender people,” Marzilli says regarding what the data show. “It shows people just kind of demonstrating that they’re uncomfortable, or uncertain about how comfortable they are, with mixed public restrooms.