Trump's praise boosted American Eagle shares 24%
The president described the ad starring actress Sydney Sweeney as the hottest ad of the moment.
American Eagle advertisement in New York/ Timothy A. Clary.
Shares of American Eagle soared following praise from Donald Trump on his latest ad campaign. On Monday afternoon, the clothing brand saw its shares jump 24%, hitting a 25-year high. The jump came after the chairman described the ad starring actress Sydney Sweeney as the hottest of the moment.
The ad campaign became the target of some progressives and Democrats on social media. They especially criticized a scene in which the actress crosses out the word "genes" to spell "jeans."
Society
Trump se pronuncia sobre la polémica publicidad de American Eagle: "Ahora amo su anuncio"
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Politics
Vance dijo que los demócratas perdieron “completamente la cabeza” por el anuncio de Sydney Sweeney
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On the stock, it came in at the market close at $13.32 per share, leaving the company with a market capitalization of $2.3 billion.
"In the short term, traders are very adept at chasing hype" he said. If one believes that the more this is talked about, the better it is for the stock, then that certainly is a boon," said Steve Sosnick, chief strategist at Interactive Brokers, speaking to Bloomberg. "Whether or not that translates into more or fewer people buying the actual products," he added.
What did Trump say about the American Eagle ad?
Days after the ad went viral and Democrats complained, the president weighed in on the campaign starring Sweeney on his Truth Social account.
"Sydney Sweeney, a registered Republican, has the 'HOTTEST' ad out there. It’s for American Eagle, and the jeans are 'flying off the shelves.' Go get ‘em Sydney! On the other side of the ledger, Jaguar did a stupid, and seriously WOKE advertisement, THAT IS A TOTAL DISASTER! The CEO just resigned in disgrace, and the company is in absolute turmoil. Who wants to buy a Jaguar after looking at that disgraceful ad. Shouldn’t they have learned a lesson from Bud Lite, which went Woke and essentially destroyed, in a short campaign, the Company. The market cap destruction has been unprecedented, with BILLIONS OF DOLLARS SO FOOLISHLY LOST. Or just look at Woke singer Taylor Swift," the chairman wrote.
"The tide has seriously turned — Being WOKE is for losers, being Republican is what you want to be. Thank you for your attention to this matter!", he added.
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