Oprah Blamed For Weight Watchers Stock Crash?
Is Oprah Winfrey to blame for Weight Watchers recent stock results?
According to multiple reports, the brand was expecting impressive results after she endorsed the popular weight loss program.
Last year, Winfrey and Weight Watchers partnered selling the former daytime talk show queen with a 10% stake for $43.2 million. She also joined the company’s board of directors, became a spokesmodel for the brand, and went on its diet.
Winfrey enlisted her BFF CBS morning anchor Gayle King on the diet.
Initially, the strategy worked, with the company’s stock soaring from $6.79 per share in October to $26.61 a month later.
Reportedly, on Thursday, the company reported a suprise 21% drop in fourth-quarter revenue, which sent its shares tumbling more than 28%, down to $11.25 a share.
Eat bread. Lose weight. Whaaatttt? #ComeJoinMe https://t.co/jUgpk9ToXYhttps://t.co/xtnB53EwSf
— Oprah Winfrey (@Oprah) January 26, 2016
That cost Winfrey $27 million on paper, though the share price is still above what she bought them for originally.
Some argue that if Winfrey still had her talk show, which ended it’s run in 2011, her stamp on Weight Watchers may be much different. [NY Daily News]
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