DAVOS – French President Emmanuel Macron’s appearance at the World Economic Forum in Davos has unexpectedly fueled a surge in the stock price of an Italian eyewear company. His choice of sunglasses sparked a wave of market speculation, driving the company’s shares to unprecedented levels.
Following Macron’s address in Davos, shares of Italian firm IVision Tech experienced a remarkable surge, climbing by approximately 28% during trading on Thursday. This spike occurred immediately after images circulated showing Macron wearing the company’s sunglasses while delivering his speech at the annual global economic summit in Switzerland.
The sunglasses, identified as the ‘Pacific S.01’ model from the luxury French brand Henry Jullien, retail for around 659 euros, or approximately $770, according to the company’s official website.
IVision Tech’s CEO, Stefano Fulchir, attributed the surge to the significant media attention generated by Macron’s appearance. He stated that the widespread coverage and rapid dissemination of the images had a ‘clear and immediate impact’ on the stock’s performance, leading to increased investor interest.
The sharp increase in share value added approximately 3.5 million euros (around $4.1 million) to the company’s market capitalization. The stock’s volatility prompted the Milan Stock Exchange to temporarily suspend trading on several occasions due to the rapid upward trajectory.
Prior to this event, the stock had already gained approximately 6% during Wednesday’s session before trading was suspended for most of the day. Trading briefly resumed on Thursday morning before being halted again, with analysts anticipating the largest single-day jump in the stock’s history.
Social media users widely shared images of Macron, often accompanied by humorous comments and comparisons to the movie ‘Top Gun,’ further amplifying the media buzz surrounding the event.
The Élysée Palace clarified that President Macron wore the sunglasses for health reasons.
