CAMPBELLS SOUP STOCK PRICE SINKING RIGHT ALONG WITH ITS BRAND
I love soup. And the colder it gets, the more soup should be on the menu. I even love old American staples like Campbells Soup, their tomato soup especially. But Campbells is more than classic Americana, it’s been around since 1869! They make all kinds of soups, and pretty much every American has eaten it at one point or another. But like every other company that’s been around for a long time, the corporate culture can be a problem from time to time, and seriously hurt brand. But the Campbells Soup is sinking fast, and the stock price is sinking even faster.
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RECENT RFECORDED COMMENTS BY CAMPBELLS SOUP VP SAW STOCK PRICE DROP 3%
At market close this week on Monday, the stock price dropped 3% after Campbells Soup VP Martin Bally’s recorded comments from a 2024 meeting came to light. Bally allegedly mocked the people who eat his company’s products as being poor, allegedly made some racist comments, and also talked about “bioengineered meat that came from a 3D printer.” So far, the company has issued a generic statement of denial about the recorded statements, saying they were “inaccurate” and “patently absurd.”
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BUT A BOYCOTT OVER CAMPBELL SOUP SHAREHOLDERS HAS DROPPED STOCK PRICE 27%
But the Campbells Soup tear-to-date price is down more than 27%, which is happening in tandem with its sinking brand. Why? Well, it could have something to do with a social media boycott because of some of Campbell Soup’s largest share owners, like BlackRock and Vanguard. But Campbells Soup is an interesting example of consumer sentiment souring with negative brand association of controversial investment firms and out of touch executives amid major market pressures. If this direction continues, Campbells Soup could be a sign of much more to come in a transforming market.
