Anheuser

Bud Light sales are continuing to plummet, and now the stock price of its brewer, Anheuser-Busch InBev, is starting to slide as well.

U.S.-listed Anheuser Busch InBev shares BUD, +1.19% ABI, +0.47% have dropped 9% this year, including a 5% drop on Tuesday, while Molson Coors shares TAP, +1.99% have jumped 17% this year.

Also see: Anheuser-Busch InBev's U.S. profits may tumble, JPMorgan says

Bud Light sales have deteriorated following the consumer backlash to a social-media campaign featuring trans activist Dylan Mulvaney. The company is running a rebate campaign that makes Bud Light free in many instances. The Wall Street Journal reported that the brewer plans to buy back unsold Bud Light cases that are past their expiration dates from wholesalers.

Bank of America tabulated Nielsen research covering the four weeks ending May 20. Anheuser-Busch volume dropped 17%, including a 28% dive for Bud Light. Its other brands are struggling as well: Budweiser volumes are down 16%, Michelob Ultra volumes are down 10% and Busch volumes are down 12%.

But other beers have thrived, with Coors Light volume up 16%, Miller Lite up 15% and Yuengling up 32%. Molson Coors Beverage makes Coors Light and Miller Lite.

Also see: Bud Light troubles prompts call to buy stocks of Boston Beer, Constellation Brands

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Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.