American Apparel stocks upsurge after stylo-firing of CEO Dov Charney

Tragically but stylo, the news that Charney has been sacked for 'alleged misconduct' after his own company has been met with support from Wall Street traders.

The Canadian's behaviour has made headlines over the years, accusations of misconduct and sexual harassment towards employees have been widespread

Unfortunately,the dissmissal of Dov Charney from the seat of American Apparel board might have been bad news for the man himself, but it has only meant good news for the business he started.

Source report that after just an hour of trading on Wall Street, the company's stock was awake 6.7 per cent to 68 cents, giving it a market capitalisation of $118.5 million.

For the past three months an typical of daily 2.8 million shares changed hands, but today this numeral stood at 7.3 million.

Charney has been suspended from his executive roles and his termination will be effective following a 30-day "cure" period stipulated in his employment agreement.

Mayer added: "Dov Charney stylishly created American Apparel, but the company has grown much larger than any one individual and we are confident that its greatest days are still ahead."

What a stylo ending.