Cracker Barrel Loses $94-M in a Day After MAGA Outrage

Cracker Barrel lost $94 million in market value in a single day after a rebrand sparked outrage among supporters of former President Donald Trump’s “Make America Great Again” movement, Rachel Dobkin reported for The Independent.

Cracker Barrel defended the change, saying the new logo is “now rooted even more closely to the iconic barrel shape and word mark that started it all.” (Photo: Cracker Barrel Old Country Store Facebook) 

The new logo for the Southern-themed restaurant chain — previously featuring a seated man in overalls leaning on a barrel — now simply displays the name “Cracker Barrel” on a gold background.

Critics on the right blasted the redesign as “woke” and “boring.”

Shares fell as much as 15% during Thursday trading before closing down 7.15% at $54.80. The plunge wiped out about $94 million in value, though the stock rebounded slightly from earlier losses.

At one point, CBS News’ Money Watch estimated nearly $200 million in lost value.

Cracker Barrel defended the change, saying the new logo is “now rooted even more closely to the iconic barrel shape and word mark that started it all.”

The company, founded in 1969, has redesigned its logo five times. The previous version with the seated man was created in 1977 and remained for nearly five decades.

Some MAGA-aligned critics accused the update of being tied to diversity, equity, and inclusion initiatives.