Half a year into the Ben & Jerrys boycott: the stock crashed

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Knitted News19.01.22 14:48 17 Bishvat Tishpev

Half a year into the Ben & Jerrys boycott: the stock crashed

(Photo: Haim Goldberg / Knitted)

“Whoever messes – crashes,” Miri Regev said at the time (and predicted Argentina’s failure in the World Cup) and it seems that Ben & Jerry’s is experiencing the same effect.

Exactly six months after the owners of the ice cream brand Ben & Jerry’s announced the termination of the contract with the Israeli franchisee Avi Singer due to his refusal to boycott Judea and Samaria, Unilever’s share in an unprecedented crash.

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In six months, the company’s stock has plunged 20.7%, translating to a loss of $ 26 billion. For comparison, the share of major competitor Nestle has risen 5% in the last six months.

On the morning of 19/7/21 the stock was trading at a price of 4,356. This morning (19/1/22) exactly six months later: the stock started trading at a price of 3,450. This is a crash of 20.7% which translates into a huge loss of about $ 26 billion.

In Israel, it is said that this is the result of hard work by the Ministry of Foreign Affairs and the Jewish communities abroad who are currently waging a wide-ranging struggle against Unilever Global: Through cooperation with 33 US states that enacted anti-boycott laws, Israel and the Jewish communities That many countries would enforce the boycott laws against Unilever which led to the withdrawal of investments, holdings and pension funds.

So far one can find among the states that have enforced the boycott laws: New York, New Jersey, Illinois, Texas, Arizona and more and more. Unilever experienced a chain of crises that began with the boycott demand, is currently experiencing another crisis following GSK’s pharma refusal to be acquired by Unilever. This crisis plus the boycott crisis indicates a loss of leadership in the company and a lack of corporate governance.

Avi Singer, the owner of Ben & Jerry’s Israel, said following the stock dive: “This is a tremendous boost to the stubborn struggle I am waging these days against Unilever’s unfounded demand not to sell ice cream in all parts of Israel. I want to thank the citizens of Israel But while the State of Israel, through the Ministry of Foreign Affairs, requires the countries of the world to enforce the boycott law, it itself should have imposed immediate sanctions against Unilever, which operates without interruption in Israel and receives unprecedented regulatory benefits. On the other hand, the IDF will continue to purchase products worth millions of shekels a year from the company. “

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