THE GARCIA BOUNCE: There are movers and shakers in the fashion world and big-time players on Wall Street, but few can stake major claims in both worlds — among them Wednesday was Nina Garcia.
The fashion director of Marie Claire, “Project Runway” judge and recently named “style voice” for J.C. Penney Co. Inc. sent the retailer’s stock soaring Wednesday afternoon when she tweeted, “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!”
The stock, which was relatively flat until the tweet, jumped to a gain of as much as 9.9 percent. Garcia has more than 470,000 Twitter followers, and the tweet and its impact were widely covered in the financial media. Investors, or the computers that make up most of the trading on Wall Street, calmed down some, and the Garcia bounce faded a bit, although Penney’s stock still closed up 4.7 percent at $22.