American Eagle (AEO) stock surged on Thursday after the apparel brand announced a collaboration with American actress and producer Sydney Sweeney, titled “Sydney Sweeney Has Great Jeans.” The fashion retailer is selling “AE x Sydney Sweeney Ultra Wide-Leg Jean” pants for women on its website and in stores. These pants cost $89.95, and 100% of the sales will go toward Crisis Text Line.
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News of the collaboration attracted meme stock traders to AEO stock on Thursday. That’s resulted in increased chatter about American Eagle on Reddit and other social media platforms that are home to meme stock traders.
American Eagle Stock Movement Today
With this increased interest from meme stock traders came a massive rally for AEO stock. This has American Eagle shares up 13.86% in pre-market trading, following a 6.18% rally yesterday. Even so, the shares were still down 33% year-to-date and 48.99% over the past 12 months.
Trading volume has also been heavy recently, with nearly 2.7 million shares traded this morning. This follows 17.51 million shares of AEO stock being traded yesterday. For perspective, the company’s three-month daily average trading volume is about 6.63 million shares.
Is American Eagle Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for American Eagle is Hold, based on one Buy, nine Hold, and a single Sell rating over the past three months. With that comes an average AEO stock price target of $11.30, representing a potential 4.4% upside for the shares.
