Why American Eagle Outfitters Rallied in August
Shares of American Eagle Outfitters (NYSE: AEO) rallied 19.8% in August, according to data from S&P Global Market Intelligence.
American Eagle capitalized on July's optimism regarding its new ad campaign starring actress Sydney Sweeney when President Trump endorsed the company's campaign in early August. Then later in the month, American Eagle announced a collaboration with Kansas City Chiefs tight end and Taylor Swift fiancée Travis Kelce.
American Eagle's stock got a bump in late July when it launched a controversial ad with actress Sydney Sweeney with the byline, "Sydney Sweeney has Great Genes Jeans." While the stock then faded after an initial lift, President Trump weighed in in early August, writing on his social media platform Truth Social that the ad was, "the HOTTEST out there...the jeans are flying off the shelves."
Source Fool.com
