Bud Light gets stock downgrade just weeks after Dylan Mulvaney fallout

Bud Light sales have dwindled and its stock has been downgraded in a continuing fallout since the popular beer ran a promotion with transgender influencer Dylan Mulveney last month.

Parent company Anheuser-Busch InBev (ABI) sold $71.5 million worth of Bud Light in the week ending April 29, a 23% drop compared to a year ago, according to data from Bump Williams Consulting. Budweiser sales have hit $31.5 million so far this year, down roughly 11%, the firm said. Sales of other Anheuser-Busch brands — including Budweiser, Michelob Ultra, Busch Light and Natural Light — have also taken a hit. 

Mulvaney, a San Diego-based trans rights activist and actress, posted an Instagram video April 1 to promote a contest for the beer brand. In the promotion, she showed off Bud Lite cans with her face on them commemorating her "365 days of girlhood" series in which she documents her gender transition.