Twitter owner Elon Musk took a shot at Target on Friday morning after JP Morgan downgraded the retailer’s stock, saying that it was only a matter of time before the company faced lawsuits for its controversial actions that have led to the company losing billions of dollars in market value.
Target made “emergency” calls in mid-May to managers and senior directors after the company faced backlash for its Pride collection, which included “tuck-friendly” female swimwear.
“We were given 36 hours, told to take all of our Pride stuff, the entire section, and move it into a section that’s a third the size. From the front of the store to the back of the store, you can’t have anything on mannequins and no large signage,” a Target insider told Fox News.
The woke company has since faced boycotts, lost more than $12 billion in market value, and faced its longest losing streak in years.
JP Morgan said that it was downgrading Target’s stock because of the “recent company controversies.”
Musk responded to the news by tweeting: “Won’t be long before there are class-action lawsuits by shareholders against the company and board of directors for destruction of shareholder value.”
Won’t be long before there are class-action lawsuits by shareholders against the company and board of directors for destruction of shareholder value
— Elon Musk (@elonmusk) June 2, 2023
Daily Wire host Candance Owens responded in agreement with Musk’s disapproval of Target, praising the CEO for his commitment to free speech and the safety of children.
Elon weighing in on Target scandal now!
So much respect owed to Elon and what he has contributed. https://t.co/p16HK9z41f
— Candace Owens (@RealCandaceO) June 2, 2023
Target has been perceived as “woke” by many online since at least 2014 when the company announced it would no longer divide certain products by gender.
In 2016, Target introduced a gender-neutral line for children and also asserted they would allow transgender people to use whatever bathroom they preferred, prompting criticism. Target then spent $20 million to put private bathrooms in their stores.
The vice president for brand management at Target also serves as treasurer of an LGBT group that has received millions of dollars in donations from Target and urges schools to adopt policies to help trans and nonbinary school students hide their “gender identity” from their parents.