Sydney Sweeney made headlines as she attended the 10th Annual LACMA ART+FILM Gala in Los Angeles on November 6, 2021. Recently, it was announced that the talented star of “Euphoria” and “Anyone But You” will be leading a fall campaign for the clothing retailer American Eagle. Following this announcement, shares of American Eagle experienced a notable upswing, rising over 4% during Thursday’s trading session after a significant premarket surge.
The stock’s leap positions American Eagle within a new wave of meme stocks that have been gaining traction this week. With more than 13% of its shares available for trading sold short, American Eagle has become a target for meme-obsessed individual investors who are amplifying its market volatility. This trend mirrors the recent attention seen with other brands such as GoPro and Krispy Kreme, alongside earlier activity from Opendoor Technologies and Kohl’s.
Sweeney’s forthcoming campaign will emphasize American Eagle’s denim jeans, a fashion staple that is currently enjoying a resurgence in popularity thanks to a growing embrace of Western styles. Jennifer Foyle, the company’s president and executive creative director, highlighted Sweeney’s appeal, stating, “With Sydney Sweeney front and center, she brings the allure. We add the flawless wardrobe for the winning combo of ease, attitude and a little mischief.”
This positive development could serve as a turning point for American Eagle, whose shares have faced a challenging year, dropping around 35% in 2023 before this latest increase. The collaboration with Sweeney, alongside the buzz created in trading circles, may help the retailer rebound in a competitive market.
Overall, the appointment of Sweeney as the face of American Eagle’s campaign not only signals the brand’s strategic decision to enhance its appeal but also taps into the spirited engagement of retail investors, fostering a sense of optimism around the company’s future trajectory.