- Target shares fell 3.66 percent Tuesday, resulting in the retail store losing $2.4billion in market capitalization
- The losses put the stock on its longest losing streak since November 2018, with prices at a 52-week low of $133.88
- Target’s market capitalization fell by over $12billion in the last 14 days
By MELISSA KOENIG FOR DAILYMAIL.COM
PUBLISHED: 15:32 AEST, 31 May 2023 | UPDATED: 23:32 AEST, 31 May 2023
Target’s share prices continued to plummet for an eighth-straight day Tuesday as the retailer faces its biggest losing streak in five years.
Shares fell 3.66 percent on Tuesday, resulting in the once-popular retail store losing a whopping $2.4billion in market capitalization amid widespread backlash to its Pride display, which included ‘tuck-friendly’ women’s swimwear.
Tuesday’s losses put the stock on its longest losing streak since November 2018, according to FOX Business, with shares at a 52-week low of $133.88 — down nearly 15 percent over the month.
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Target’s market capitalization is down by more than $12billion in the last 14 days as its value plunged to $61.85billion when trading closed Tuesday.
In total, Target’s market value fell over $12billion to $61.85billion as of Tuesday’s closing. That is a stark difference from earlier in the month, when its market value was over $74billion
Target has lost billions of dollars in market capitalization in the span of a few days as it continues to face backlash for a Pride-themed clothing rollout currently on display in its stores. Pictured: the Pride collection in Target
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