Sydney Sweeney, the star of “Euphoria” and “Anybody But You,” is shaking things up in the stock market. Analysts credited her with American Eagle shares, which rocketed more than 10% Thursday morning. This surge follows news that Sweeney will indeed be headlining a campaign come this fall. The campaign will feature primarily denim jeans for the fashion retailer.
On Wednesday, American Eagle made the announcement of their collaboration with Sweeney. This decision has brought praise from investors’ eyes, especially during a downturn in the company’s stock performance. Prior to this announcement, American Eagle’s shares had tumbled approximately 35% through Wednesday’s close. Sweeney’s appeal seems to have brought the brand back to life, helping it become one of the first brands to catch the renewed attention of meme traders.
The recent trading activity indicates a very strong reversal. More than 13% of American Eagle’s float—or available shares—are now sold short, according to FactSet data. Meme traders, who have previously targeted companies like Opendoor Technologies and Kohl’s, have now redirected their attention toward American Eagle as Sweeney’s influence grows.
Jennifer Foyle, American Eagle’s president and executive creative director, emphasized the significance of Sweeney’s role in the campaign.
“With Sydney Sweeney front and center, she brings the allure,” – Jennifer Foyle, American Eagle’s president and executive creative director.
Sweeney’s collaboration comes as Western-inspired apparel has reached a peak of mainstream Americana. Retailers such as American Eagle are moving the fastest to adjust their merchandise in line with this trend. The increase in demand for denim has sent skirt sales of Levi’s through the roof. Demand is up 2x on this specific skirt, so go figure on this trend. American Eagle couldn’t be more pumped about this fall campaign. Foyle characterizes the new collection as one that represents “ease, attitude, and a touch of mischief.”
Despite her rising status and recent financial gains, Sweeney has expressed concerns regarding money and financial stability, stating she might not ever feel completely comfortable with it. It’s a feeling that many in her generation identify with. They oscillate along the threads of economic comfort as the world’s financial landscape changes around them.