Are Crocs Making A Comeback?
The latest data from TickerTags provides some surprising insight into the resurgent popularity of Crocs, Inc. (NASDAQ: CROX) footwear. TickerTags monitors social media sites to identify trends by searching for words or phrases that are found together in social media content, such as tweets.
In the past two years, Crocs’ stock is down more than 30 percent, but its Twitter mentions have remained fairly consistent. Crocs undergoes seasonal cyclicality in its social media activity because its products are mostly worn in warm weather.
However, while the seasonal volume of Crocs mentions on Twitter have remained steady in the past couple of years, the percentage of positive mentions has jumped by 16 percent from 50 percent to around 67 percent.
Perhaps the climb in positive sentiment for Crocs can be attributed to several high-profile Crocs sightings in the past couple of years. Back in June of 2015, Britain’s Prince George was spotted wearing Crocs. That same month, Vogue published an article on how Crocs can be worn fashionably.
The trend seems to have carried over into 2016 as well. In February, Ryan Reynolds was seen wearing Crocs in the hit movie “Deadpool,” and just this month Teen Vogue said that “Fashion Girls” wear Crocs as well.
It’s too early to say if this trend will continue or if it will have an impact on Crocs’ bottom line, but it is certainly a trend worth watching.
Disclosure: The author holds no position in the stocks mentioned.
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