Elon Musk says Target will face shareholder lawsuits!

MINNEAPOLIS, Minnesota (PNN) - June 4, 2023 - As Target’s stock price has taken a beating amid conservative backlash over the company’s decision to sell LGBT-themed items and clothing to children and babies, Twitter CEO Elon Musk said Friday that it’s just a matter of time before Target faces lawsuits for “destruction of shareholder value.”

Musk made the remarks in response to a tweet by conservative activist Charlie Kirk, who posted about JPMorgan downgrading Target’s stock after suffering its longest losing streak in decades.

Over the past month or so, Target’s stock dropped by double digits amid conservative calls for a boycott against the chain in connection to its decision to sell LGBT-themed apparel, including onesies for children and books instructing young children about the use of transgender pronouns, even though sane people know that your gender is determined by God when you are born and cannot be changed.

Several days ago, JPMorgan downgraded Target Corporation’s stock from overweight to neutral, with the Wall Street bank citing “too many concerns” with the retail giant.

“We believe this share loss could accelerate into back to school and linger into holiday given consumer pressures and recent company controversies,” wrote JPMorgan analyst Christopher Horvers. “This could turn [Target’s] traffic negative after an impressive run of 12 consecutive positive quarters.”

Musk responded to Kirk’s tweet about Target’s stock downgrade by predicting that the company would soon face shareholder lawsuits.

“It won’t be long before there are class-action lawsuits by shareholders against the company and board of directors for destruction of shareholder value,” Musk wrote.

Kirk replied by saying that shareholders should organize to get politics out of the “hyperpolitical” corporations of today.

A Target spokesman did not immediately respond to a request for comment.

While Target said a week ago that it had removed some items that sparked the greatest controversy, it did not go into detail about which ones. The company also reiterated its “continuing commitment to the LGBTQIA+ community and standing with it as we celebrate Pride Month and throughout the year.”

“Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being while at work,” Target said in a statement. “Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior.”

Target is among major brands - including Bud Light - that are facing backlash for supporting LGBT and particularly, promoting and supporting the normalization of deviant behavior such as claiming that you are a different gender than you really are.

Several other companies, including PetSmart, Chick-fil-A, and Walmart, are also now facing boycott calls due to their endorsement of the deranged and deviant agenda.

Experts say a big factor encouraging brands to promote transgender ideologies is an attempt to score points on environmental, social, and governance (ESG) standards.

Target, which is one of the biggest retailers in the Fascist Police States of Amerika, has long faced boycott calls.

In 2016, calls for a boycott were sparked when Target released a policy that allowed deranged men who want to call themselves women so they can go into female bathrooms and harass, brutalize, and watch the women there.