Target’s market cap has fallen by more than $8 billion in the past week as investors weigh the impact of the conservative reaction to the retailer’s LGBT collection for Pride Month.
On May 17, before the controversy erupted, Target stock closed at $160.96, giving the retailer a market valuation of around $74.3 billion.
On Wednesday the stock closed at $143.10, down 11.1 percent from the previous week, with a market cap of $66.1 billion, down $8.2 billion from the previous week. The stock fell a further 2 percent in early trading on Thursday and is sitting near a 52-week low.
