Shares of Walgreens Boots Alliance (which owns the Walgreens retail pharmacy chain in the US) plummeted after California Governor Gavin Newsom announced that the state will no longer contract with the company.

Newsom’s move came after Walgreens said that they would not provide abortion pills even in some states where they are still legal, caving to immense pressure from a number of Republican attorneys general.

Newsom wrote on Twitter last week, “California won’t be doing business with @walgreens – or any company that cowers to the extremists and puts women’s lives at risk. We’re done.”

By this week, Walgreens shares had dropped steeply.

It’s unclear how Newsom will enact his planned boycott of California, but it’s clear that shareholders are nervous about what he has in mind.