Anheuser-Busch’s stock extends bounce after Garth Brooks implies Bud Light will be sold at his ‘Friends in Low Places’ bar

Shares of Anheuser-Busch InBev S.A.
BUD,
+0.78%
rose 0.8% in morning trading Tuesday, after country singer bar owner Garth Brooks implied he would not ban Bud Light at his bar. Anheuser-Busch’s stock has bounced 4.0% since it closed at a 6 1/2-month low of $53.40 on May 31. The stock had plunged 17.8% in May, amid an anti-trans backlash over the Bud Light brand’s partnership with trans influencer Dylan Mulvaney. In a video posted on Brooks’ Inside Studio G website, Brooks said “inclusivity is always going to be me,” and said “Friends in Low Places” bar will have the most popular beers, implying it would sell Bud Light. Anheuser-Busch’s stock has shed 7.5% year to date, while the S&P 500
SPX,
+0.58%
has climbed 13.7%.