American Eagle shares surge after Trump praises Sydney Sweeney ad

American Eagle Outfitters shares jumped the most since 2000 on Aug 4 after United States President Donald Trump touted the company's ads — pushing the retailer's stock into meme stock territory.

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The shares spiked 24 per cent after he said in a social media post that American Eagle's recent marketing blitz with American actress Sydney Sweeney, 27, is the "HOTTEST ad out there". He said American Eagle jeans are "flying off the shelves".

It is not yet clear whether the ad campaign — which controversially celebrates Sweeney's genetic traits as well as her jeans — is convincing shoppers to buy the company's apparel.

Analysts say the real test will be how American Eagle performs during the crucial back-to-school season as consumers begin to stock up on jeans and other autumn essentials.