American “beer” brand Bud Light knocked $4 billion dollars off its parent company Anheuser Busch’s market cap this past week, following a pro-transgender advertisement featuring the biological male known as Dylan Mulvaney.

On March 31st, Anheuser Busch had a market capitalization of 132.38 billion dollars. By April 10th, that figure had dropped to $128.4 billion, with signs that the stock price will continue to fall.

Mulvaney, 26, posed with a Bud Light can in a bubble bath in early April, in a failed Bud Light marketing attempt to alter its targeted demographic.