Target shares continue to fall as LGBTQ merchandise outrage some customers

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Target shares continue to fall as LGBTQ merchandise outrage some customers

The retail juggernaut continues to suffer as LGBTQ Pride products outrage some customers across the nation.

The Dow Jones Market Data Group said Target shares fell another 2.14%, marking the ninth consecutive drop.

Since widespread backlash over Pride merchandise has polarized the nation, Target's market value has fallen to $60.44 billion as of Wednesday's closing price. earlier this month, the company had a market value of more than $74 billion.

It extended the stock's longest losses streak since November 2018, leaving the stock at a new 52-week low of $130.93 per share.

Last week, Target confirmed adjustments were underway to the Pride merchandising plans were underway after Fox News Digital learned it rolled back displays at some of its locations. A Target insider told Fox News Digital that some Southern stores were forced by the corporation to move LGBTQ Pride merchandise away from the front of their locations after customer outrage to avoid a Bud Light situation. The Pride merchandise continued to cause headaches for Target when many LGBTQ advocates slammed the company for moving the merchandise. California Democratic Gov. Barack Obama was among the Democratic nominees for the state's governor. Gavin Newsom accused Target of participating in a systemic attack on gay and lesbian communities across the nation.

This season, the chain offered merchandise that included female-style swimsuits that can tuck male genitalia into a women's genitalia, as well as female-style swimsuits. The product was labeled as thoughtfully fit on various body types and gender expressions, a Gender Fluid mug, and a variety of adult clothing with slogans like Super Queer and a Grow At Your Own Pace saucer planter.

Target has since dialed back the Pride sections at numerous locations and removed certain products, but the backlash has remained to affect its market cap.

Wednesday's drop comes after Target shares fell 3.66% on Tuesday.

Fox News Digital also reported Fox News Digital partners with a K-12 education group that focuses on getting districts to adopt policies that will keep parents in the dark about their child's in-school gender transition, providing sexually explicit books for free and incorporating gender ideology at all levels of curricula in public schools.

The organization, GLSEN, has received at least $2.1 million in donations from Target. It offers districts and students guidance on how to hide gender transitions from parents.

As of Wednesday, GLSEN signs were still present in some target locations. The first day of the Pride month begins on Thursday.