A recent study by Cyabra uncovered a disinformation campaign targeting Cracker Barrel on social media, especially X. It revealed that 21% of profiles attacking the company were fake and part of a coordinated effort that resulted in a dramatic 10.5% stock drop, equating to around $100 million in losses. These fake accounts framed the company’s changes, such as rebranding efforts, as a “betrayal of tradition,” claiming it surrendered to a “woke agenda.”
The campaign featured three main narratives:
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“Betrayal of tradition” framing: Fake profiles depicted the changes as a rejection of Cracker Barrel’s core values, claiming they were erasing American heritage.
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Boycott campaigns and financial doom: Profiles promoted hashtags like #BoycottCrackerBarrel, inaccurately suggesting widespread consumer backlash and imminent financial collapse, which fostered a negative perception of the brand.
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CEO’s “failed leadership”: The campaign targeted CEO Julie Felss Masino, labeling her as out of touch and attributing the brand’s perceived problems to her leadership, thus simplifying corporate issues into an individual failure narrative.
Overall, the campaign demonstrated how Fake information could lead to real-world consequences for companies, highlighting the impact of misinformation in shaping public opinion and market performance.
