BREAKING: Target stock falls to lowest point in nearly 3 years amid backlash over Pride merch for kids

$TGT fell to $137.39 at 9:52 am Wednesday, a price it hadn't hit since August 2020.

Jarryd Jaeger Vancouver, BC
Target's stock price reached its lowest point in nearly three years Friday, dipping down to $137.39 USD before rebounding slightly.

The company has suffered financially in recent days as backlash grows over its decision to sell Pride merchandise to children.

According to Yahoo Finance, $TGT fell to $137.39 at 9:52 am Wednesday, a price it hadn't hit since August 2020.

While the stock has rebounded in the hours since, it remains on a downward trend since backlash began.

The company has lost a reported $9 billion in the past week, according to CEO Brian Cornell.

Target reportedly held "emergency" calls with a number of managers and district senior directors earlier this week, instructing them to scale down stores' displays of Pride-related merchandise.

Its decision to sell a selection of LGBTQ-themed clothing and accessories to children was slammed by many on the right, and as a result, the retail giant has sought to avoid a "Bud Light situation."

This is a breaking story and will be updated.

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