Boycott Over: Conservative "Cannabis" Stock Index Rebounds In June

Anheuser-Busch InBev (BUD) found itself in the eye of the anti-transgender storm because a 26-year-old influencer posted a video which included a tallboy can with her face on it (supplied by Budweiser to celebrate her anniversary of transitioning). This made some anti-transgender people very upset, with many on the right calling for a boycott of the company's Bud Light brand, the bestselling beer in the country. As a result, Anheuser-Busch InBev stock began to decline in April (-2.6%) and then went down another 18% during the month of May. In comparison, the 5 other companies in the munKNEE Conservative "Cannabis" Stock Index declined 1.5%, on average, in May.

That being said, according to Anna Tuchman who has researched boycotts, such efforts tend to be short-lived and don’t have a long-term effect, and that has proven to be the case with BUD's stock price, rebounding 3.3% so far in June.

Below are the performances of the 6 constituents in the munKNEE Conservative "Cannabis" Stock Index month to date (MTD), in descending order:

Molson Coors (TAP): UP 7.5% MTD
- has a 57.5%/42.5% joint venture, called TRUSS, with Hexo Corp. (HEXO),
Anheuser-Busch (BUD): UP 3.3% MTD
- has a $100 million joint venture with Tilray (TLRY),
Imperial Brands (IMBBY): UP 3.0% MTD
- has a 19.9% stake in Auxly Cannabis Group (CBWTF),
British American Tobacco (BTI): UP 2.6% MTD
- has a C$221M investment and product development partnership with Organigram Holdings (OGI),
Altria Group (MO): UP 1.8% MTD
- has a 45% stake in Cronos Group (CRON),
Constellation Brands (STZ): DOWN 0.6% MTD
- has a 39% stake in Canopy Growth (CGC).