Target's stock dropped as the retailer spirals deeper into controversy as a result of its 2023 pride collection.
Its shares slipped another 1.22% Friday, which only added to the total 12.6% lost during the first week of the collection, according to Dow Jones Market Data Group. Total losses are calculated to be $9.3 billion in market value.
Target reported losses for seven consecutive days after it already hit a record Thursday as the longest losing streak since December 2022 and "the worst six-day stretch since the six days prior to May 25, 2022, when shares fell 27.34%," according to Fox Business.
This comes after a week drenched in controversy over Target's most recent collection, which included designs from Abprallen, a brand out of the United Kingdom and headed by a self-proclaimed gay, transgender man known as Erik, who had an affinity for satanism. The designer's website has since temporarily shut down.
