Unilever stock loses $2.5B amid calls to boycott Ben & Jerry’s over tweet
Ben & Jerry’s parent company has lost roughly $2.5 billion in market cap amid calls to boycott the Vermont-based ice cream maker over a July 4 tweet condemning the US for existing on “stolen Indigenous land.”
Shares of Unilever, the Anglo-Dutch multinational firm, slid as much as 1% at Thursday’s opening bell after closing down .5% the previous day.
The company’s stock price has fallen to roughly $51 after closing at $52.28 during Monday’s shortened trading — and the day before Ben & Jerry’s posted its unpatriotic tweet.
The result has seen its market cap drop to $131 billion from the roughly $133.5 billion on Monday.