Abercrombie Stock PLUMMETS After Dissing 'Jersey Shore'
Abercrombie & Fitch Stock PLUMMETS After Dissing 'Jersey Shore'
8/17/2011 11:24 AM PT
The Situation could have more market power than anyone imagined -- because a day after Abercrombie & Fitch offered him and the other "Jersey Shore" cast members cash NOT to wear its clothes ... the company's stock plummeted 9%.
Abercrombie's stock hit the new low today -- the first trading session since the company offered Sitch and the cast substantial $$$ to stop wearing A&F-branded products.
Abercrombie fired off a press release yesterday, offering the cast "a substantial payment" in return for not wearing its threads, claiming The Situation goes against the "aspirational nature of its brand."
A source directly connected with The Situation tells TMZ ... Abercrombie never personally contacted them, or in any way made a financial offer to stay away from A&F clothing.
Translation -- this stunt backfired big time.