Trump pen praise lifts Korean firm's stock
Monami, a South Korean pen maker, just watched its shares jump over 60% in two days—all because US President Trump complimented a pen using a Monami nib during a White House summit with South Korea's President Lee Jae-myung.
Pen maker's stock shoots up
It's a real-life example of how a simple shoutout from a world leader can send markets spinning.
After Trump admired the handmade fountain pen (with classic Korean designs and a Monami nib) on August 25, 2024, media buzz exploded.
Orders poured in for Zenyle, the pen's maker, and Monami's stock shot up nearly 30% one day, then another 24% the next.
Summit locks in more US-South Korea cooperation
The hype pushed Monami to its highest price in over a year before things calmed down—though shares still held onto big gains.
Demand even got so wild that Zenyle (the pen's maker) had to pause sales for a bit.
The summit also locked in more US-South Korea cooperation, including plans for Korean Air Lines to buy over 100 Boeing jets.