Mattel joins Barbie’s “pink wave” in the stock market

There is only a week left until the movie premiere of the year: Barbie will appear on the big screen on July 21st. The movie has been hyped up more than just talked about The amount of references from the cast to Barbie on the carpet And with the creation of a whole pink world where even Airbnb has created a Malibu DreamHouse that can be rented.

Close to the movie’s premiere, sales of the dolls skyrocketed. Unexpected growth in the middle of summer, as the highest consumption tends to occur during the Christmas season. The legendary Barbie manufacturer, Mattel, is listed on the stock market and the film has had a particular impact on stock market behavior.

In less than a month, its share price had risen somewhat more than 22%. In the 14 sessions accumulated since June 21 — when Mattel began its own rally — the toy company closed only two in the negative, with tepid declines of 0.2% and 0.4%.

So far in July and with the premiere all sessions of the month are ending on a positive note and this month their earnings are already up to 9%.

Thanks to such an unstoppable rally in less than a month, Mattel’s accounts for the year have managed to turn green, and after a meager 0.2% revalued prior to June 21, its titles are now worth about 22.5% more than they were initially in. The year is 2023. Session after session, its price continues to set new highs for the year it has already recorded levels in mid-September last year.

The company’s CEO, Ynon Kreiz, said 2023 will be the year of “creating a legacy” for the Barbie brand and therefore for the company itself, and noted that the film “is a catalyst to drive major brand extensions outside of the toy business.”