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The Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) has decreased by more than 10% over the last five days, with a closing price near $55 (as of this writing). The decline followed management's choice to swap its long-established “man on a barrel” logo for a minimalist yellow barrel – a decision that triggered backlash on social media as well as among conservative commentators.
If the Cracker Barrel market puke has anything to teach Wall Street, it's that investors who are deciding where to put their money must add corporate “wokeness” to their menu of risks to digest.
The stock fell as much as 15% Thursday before recouping much of those losses.
Cracker Barrel Old Country Store Inc (NASDAQ: CBRL) $700 million brand overhaul, including a redesigned logo, has sparked backlash from loyal customers and social media critics. According to them, the company is abandoning its country roots.