Target Stock Drops 4.2 Percent in Wake of LGBT Bathroom Policy Announcement

Melanie Arter | May 4, 2016 | 11:39am EDT
Font Size
(AP Photo)

In the wake of publicizing its policy to allow people to use the bathrooms and changing facilities that correspond with their gender identity, Target stock has dropped 4.2 percent in the past two weeks.

As previously reported, the retail chain announced on its website on April 19 that they “welcome transgender team members and guests to use the restroom or fitting room facility that corresponds with their gender identity.”

The opening price of Target stock dropped from $83.50 per share on April 19 to a closing price of $79.99 per share on May 3 – a 4.2 percent decline, the Daily Signal reported.

By April 28, when the stock had dropped down to $81.33 per share, the company’s stock market value was down $1.5 billion, according to Accuracy in Media.

The American Family Association launched a boycott two weeks ago on April 21. AFA President Tim Wildmon said, “Target's new policy poses a danger to wives and daughters.” He proposed that instead the department store should provide a single-use unisex bathroom option for the trans community and for anyone who likes to use the bathroom alone.

As of April 29 – one week after the #BoycottTarget pledge started, AFA had collected 1 million signatures. On May 3, that number reached 1.15 million, AFA said.

“We are immensely thankful for the more than one million concerned citizens who have stood up for common sense and for women’s safety by boycotting Target until its bathroom policy is changed,” Wildmon said in a statement.

“It is because of the commitment of people like those who have signed #BoycottTarget pledge that corporate America will know that we will voice our opinions about harmful policies with our wallets,” he said.

“No longer can we allow vocal activists with a clear agenda to compromise the safety of our mothers, wives, daughters and friends,” Wildmon said, adding that the AFA is not at odds with the transgender community but with people with “evil intentions” who “will take advantage” of Target’s transgender bathroom policy.

“Again, AFA is reiterating that the disagreement over this policy does not reflect on the transgender community, but on the very real possibility that those with evil intentions will take advantage of a door that has been opened to them,” Wildmon added.

mrc merch