It only takes one look from Nina Garcia on Project Runway and contestants instantly know where they stand with her. Looks like she has the same effect on the stock market.
Garcia, who was named JC Penney's new "style voice" last month, tweeted this yesterday afternoon:
I’m @jcpenney’s HQ. Thank you Ron Johnson for the walk through of JCP’s prototype. Get ready to shop! Its going to be a game changer!
After that JCP's stock price zoomed up about 8%, thoroughly confusing the financial press, mostly because they had to figure out who the heck she was. The Wall Street Journal wrote:
You might think Garcia is some powerful Wall Street analyst, right? Or even some rain-making M&A banker? Or some private equity specialist? Uh, nope. Garcia is fashion director at Marie Claire and a judge on Project Runway. (Hey, we had to look it up, too.)
Forbes called her a "fashion critic," which is sort of accurate, I guess.
Anyway, is it possible that one tweet was enough to cause the stock price to go up? Forbes noted that after one of JCP's shareholders, Bill Ackman, threw his support behind CEO Ron Johnson, the stock price went up, but that it was understandable because he's "a huge name in the market, and his comments always move stocks." Um, don't underestimate Nina, finance people. Garcia has influence in fashion circles and pop culture--a potent combination that Johnson obviously had the good sense to see.
It's a little hard to believe that a bunch of Garcia's 450,000+ Twitter followers ran out to buy JCP stock, but the whole thing is still awesome, even if it's just a strange coincidence.