As Bud Light sales continue to tank after the absolute destruction of their brand thanks to the Dylan Mulvaney partnership a major multinational bank just dealt Bud another SERIOUS blow.

HSBC downgraded Bud's parent company Anheuser-Busch (ABI) to a "hold" status as stocks continue their downward tumble. This means they don't think investors should buy or sell ABI while this crisis is continuing to broil.

"If Budweiser and Bud Light are iconic American ideas that have long brought consumers together, why did these marketers fail to invite new consumers without alienating the core base of the firm's largest brand?" Laboy (HSBC managing director) asked.

This bank thinks that Bud Light's issues are VERY deep if they could make such a stupid mistake like this and he sees no evidence that the culture of the company is able to make a comeback.

That's a disaster for Bud Light, especially if it becomes a trend among other banks not beholden to the same ESG scam as Bud Light.

Laboy's note was written as market data shows that beer drinkers are shunning Bud Light in increasing numbers.

Nationwide retail sales of the brand were down 23.4% versus a year ago in the week of April 29 — worse than the 21.4% decline it suffered a week earlier, according to Bump Williams Consulting and NielsenIQ data.

The controversy appears to be taking its toll on other brands within the Anheuser-Busch umbrella.

The company's flagship Budweiser brand took an 11.4% sales hit for the week ended April 29.

Translation: The boycott is working, but we're not done yet.