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0:55Now PlayingAmerican Eagle Outfitters Inc. shares surged after US President Donald Trump came out in support of a controversial ad from the company.
The spot, with the actress Sydney Sweeney, is the “HOTTEST ad out there,” Trump said in a social media post. He added American Eagle jeans are “flying off the shelves.” Trump deleted an earlier post, in which the actress’ first name was misspelled
The stock jumped as much as 18%, the biggest gain intraday since May 12. Through last week’s close, the shares had declined 36% this year.
The apparel retailer launched an ad blitz in July with the tagline “Sydney Sweeney Has Great Jeans.” One of the campaign’s videos plays on the same-sounding word “genes” as Sweeney zips up her jeans and intones that “genes are passed down from parents to offspring often determining traits like hair color, personality and even eye color.”
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