Target Stock Prices Plummet After Nationwide Boycott Over Transgender Bathroom Policy

In response to Target's recently implemented policy allowing individuals to use its bathrooms according to the gender they identify with, a boycott against the market chain has taken place nationwide, leading to a $5 billion decrease in stock prices for the company.

However, Target has remained firm in upholding the new policy.

On April 19, the company’s stock was at $84.10 per share and fell to about $75.70 per share on May 11. According to Breitbart, that adds up to almost $5 billion dollars lost since April 19.

The CEO of Target, Brian Cornell, has confirmed that the company would not be reversing its policy on public restrooms despite the large amount of backlash.

Target has stated that the new policy was started in order to achieve diversity and inclusion among all of the stores towards the transgender community.

Cornell appeared Wednesday on CNBC’s “Squawk Box” and said, “One of our team members sent me a note reminding me that if we went back to the mid-60s, our company was one of the very first to use African American models in their advertising. And back then, you know, it wasn’t well received. We had a lot of tough feedback, but sitting here today, we know we made the right decision.”

Opponents of the policy believe it endangers women and children. An online petition against the company’s decisions by the American Family Association has received 1.2 million signatures.

The American Family Association, a non-profit organization founded by First United Methodist pastor Donald E. Wildmon, argues in the petition, “Target’s policy is exactly how sexual predators get access to their victims. And with Target publicly boasting that men can enter women’s bathrooms, where do you think predators are going to go. Clearly, Target’s dangerous new policy poses a danger to wives and daughters…and we think that the average Target customer is willing to pledge to boycott Target stores until it makes protecting women and children a priority.”

Cornell has also assured the public that most Target stores have a family restroom and that the company is committed to making sure every store has one in order to make all guests feel welcome throughout the stores.