March 23rd, 2012
05:07 AM GMT
(CNN) – Amid a rough political battle of the U.S. Republican presidential candidates, being caught in the middle is not something companies usually want.
But Ohio Art, producer of the child’s toy Etch A Sketch, is not complaining after a political firestorm in the U.S. caused the company’s share value to more than double in less than three days.
“I think you hit a reset button for the fall campaign. Everything changes," Fehrnstrom said. "It's almost like an Etch A Sketch. You can kind of shake it up, and we start all over again."
The Etch A Sketch is a drawing toy – a plastic tablet that, when shaken, erases the image drawn.
The political metaphor has brought Romney little gain, as rival candidates Rick Santorum and Newt Gingrich say Etch A Sketch better describes the GOP frontrunner’s change of positions on issues for political expedience.
But Ohio Art can thank Ferhnstrom for a sudden bounce.
Bloomberg reported that the Etch A Sketch maker more than doubled to US$ 9.65 after three trades, totaling 800 shares.
The sudden publicity is a boon for the once thinly traded Ohio Art, which was established 1908 in Archbold, Ohio. The company started producing the Etch A Sketch in 1960, a popular toy that was the company’s best-selling product until last year.
In a statement by Ohio Art, the toy company said it is “happy to see Etch a Sketch, an American classic toy, is drawing attention with political candidates as a cultural icon and important piece of our society.
"A profound toy, highly recognized and loved by all, is now shaking up the national debate."
It’s certainly shaken up the GOP race. “You have to stand for something that lasts longer than this,” Gingrich said during a campaign appearance in Louisiana, holding an Etch A Sketch in his hand.
Santorum’s campaign tweeted “wonder if the new Romney campaign song will be “Shake It Up.”
Fehrnstrom, however, appears to be taking the heat in stride.
“Etch A Sketch stock is up? Psst, I’ll mention Mr. Potato Head next. Buy Hasbro,” he tweeted Thursday.
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