David Yermack, a professor at NYU’s Stern School of Business, studied the first lady’s impact on apparel stocks for companies associated with outfits she wore.
The results are impressive: she added over $5B in equity value to those firms in aggregate and stocks typically went up almost 2% in the week following her appearance.
What does this have to say about celebrity endorsement of stocks and companies? I ask David about this and more on this week’s episode of Tradestreaming Radio.
Continue reading “How Michelle Obama added $5B in market cap to apparel stocks – with David Yermack”