Goodyear was caught with a slide telling workers that they could promote BLM, but that there was zero tolerance for All Lives Matter or MAGA. The tire company has since claimed that it’s not responsible for the slide, without explaining where it came from, while affirming the same message that workers could promote ‘equity’, and that’s it.
Here’s the brokeness that the wokeness led to.
At 10:33 a.m., Trump tweeted: “Don’t buy GOODYEAR TIRES – They announced a BAN ON MAGA HATS. Get better tires for far less! (This is what the Radical Left Democrats do. Two can play the same game, and we have to start playing it now!).”
One minute later, shares of Ohio-based Goodyear fell to an intraday low of $9.15, representing an intraday decline of 6%.
Goodyear had already been having trouble and this really did not help.
Shares of Goodyear Tire & Rubber Co. GT, -2.36% dropped 3.1% in afternoon trading Wednesday, after President Donald Trump urged people not to buy the tire maker’s tires… Meanwhile, shares of rival tire maker Cooper Tire & Rubber Co. CTB, +1.27% rose 1.2% and the U.S.-listed stock of Japan-based Bridgestone Corp. BRDCY, +0.76% 5108, -0.69% climbed 1.5%. Goodyear’s stock has tumbled 39.4% year to date,
This might not have been the ideal time to alienate a huge chunk of its customer base.