Business
Justin Bieber posted a photo on Instagram with Crocs - the stock soared
The Canadian pop star posted a picture with a pair of Crocs shoes floating in the pool along with the caption "SOON", causing a 12 percent rise in the stock, which she later moderated.
Collaboration on the way?
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Justin Bieber
Walla!
Business
Friday, 02 October 2020, 10:48
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It's no secret that Crocs, the shoe brand that has become synonymous with bad taste, is experiencing a renaissance.
The corona virus, which sent people to work from home, caused a jump in company sales, which plummeted in March to a low of $ 10 a share and have since more than doubled in value.
Yesterday (Thursday) Crocs opened the trading day on Wall Street with a minimal increase, but suddenly received a 12 percent boost.
The reason: Justin Bieber.
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A post shared by Justin Bieber (@justinbieber) on Oct 1, 2020 at 9:00 am PDT
The reason is a photo that Bieber uploaded to Instagram with a pair of Crocs shoes floating in the pool along with the caption "SOON".
He was also regularly seen wearing these shoes in public and the picture has heightened speculation, which already exists, that Bieber and Crocs are facing collaboration.
148 million followers saw the picture, including traders on Wall Street, and between 14:20 and 14:35 (New York time) the stock rose 12 percent.
It later moderated and closed with a 6 percent increase.
It should be noted that Crocs did not announce anything nor did it hint, so the increase is net linked to a photo posted by Bieber.
However, Crocs has previously collaborated with big celebrities, so even a contract with the Canadian star would not be an exception.
On the other hand, how many artists have 148 million followers?
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