Pepsi stock surged during scandal, plunges after apology
The recent scandal with the Pepsi ad involving Kendall Jenner that was accused of appropriating the Black Lives Matter movement had the opposite effect as expected in Wall Street.
During the scandal, prior to the ad being pulled, Pepsi enjoyed a surge in its stock after a brief dip. However, after the soda company apologized, the stock plummeted for the rest of the afternoon.
Pepsi’s competitor, Coke, didn’t seem to benefit from Pepsi’s rush of unpopularity during the scandal either, as it closed down .26 percent, while Pepsi closed down .12 percent on Wednesday after the ad was pulled.