The hole just keeps getting deeper for Bud Light’s parent company, Anheuser-Busch InBev (ABI) and US retail giant Target with their combined market value plummeting by almost US$31 billion as consumers boycott both brands.

ABI saw a market loss of US$18 billion after an ill-advised marketing partnership with transgender influencer Dylan Mulvaney that rolled out on April 1. (Not a joke.)