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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJustice Alito sold Bud Light stock amidst anti-trans boycott effort
At 4:37 p.m. on Sunday, August 13, 2023, far-right, anti-LGBTQ influencer Chaya Raichik of Libs of TikTok posted a pre-transition photograph of transgender influencer Dylan Mulvaney, calling her a dude, on Twitter, now known as X.1
The post came months into a manufactured, anti-transgender controversy over Mulvaneys minor participation in a Bud Light March Madness campaign, which led to a boycott of the beer and its maker, Anheuser-Busch, more broadly. By mid-May, The Wall Street Journal reported on how the boycott was leading to a downswing in Bud Light sales and upswings in sales of both Miller Light and Coors Light, both made by Molson Coors.
Raichiks post followed stories at the end of July and beginning of August detailing the negative effects of the boycott on the beers brand and sales. As of this weekend, the post had more than 8 million views, per Xs data, most of which were likely amassed in the days after it was posted last summer. As with most of what Raichik does, the post was intended to inflame the passions of anti-trans people online, and it worked although it also prompted responses from Mulvaneys supporters as well. By the next morning, Ari Drennen, the LGBTQ program director at Media Matters posted a video of Mulvaney with a supportive note:
Later that day, something happened more quietly as well: According to a periodic transaction report posted but now unavailable in the Federal Judicial Financial Disclosure Reports database, Justice Sam Alito sold at least some of his stock in Anheuser-Busch and bought stock in Molson Coors on Monday, August 14, 2023......
On May 16, the justices considered for the first time whether to grant those petitions and hear one or more of the appeals in the fall cases in which the justices are being asked to decide, among other questions, whether the bans on gender-affirming care for minors violate the constitutional guarantee of equal protection of the laws.
https://www.lawdork.com/p/alito-bud-light-stock-sale-anti-trans-boycott
MOMFUDSKI
(6,014 posts)uncovered. These types are hard to keep up with. Whitehouse is dancing as fast as he can.
FBaggins
(26,896 posts)Lawdorks speculation that the simultaneous sale of Bud and purchase of Coors made it likely to be boycott related is a stretch. It could easily be that he (or a financial advisor) expected the stock to fall and that some other company would benefit.
Participating in a boycott is only a political statement if youre making a statement (i.e., letting people know that youre doing it).
Hotler
(11,557 posts)JustABozoOnThisBus
(23,444 posts)Did he use his position to influence the stock prices? Did he have insider information about stock prices?
I'd guess "no" to both questions. I'm not seeing anything objectionable in these deals.
He's a despicable human being, true, but not because of a stock transaction.