Oprah Makes Weight Watchers Stock Price Double
It seems to be start of a very lucrative partnership between media mogul Oprah Winfrey and popular weight loss company Weight Watchers International, Inc. The company has announced that Winfrey shall be making a “sizable equity investment” in Weight Watchers. At the same time, Winfrey will also have a seat in the company’s board of directors. This announcement alone was enough to make Weight Watchers’ stock price jump by 105.01 percent to $13.92.Advertisement
Oprah Winfrey explains, “I believe in the program so much I decided to invest in the company and partner in its evolution.” Moreover, she says that Weight Watchers is responsible in helping her start to make “the lasting shift” to her desired weight. This is the same problem that is faced by a lot of Americans.
Under the agreement, Oprah purchased 10% of the company’s shares while also being given the option to purchase 5% more. According to USA Today, the recent jump of Weight Watchers’ stock price meant that Winfrey managed to make $70 million in just one day with her 6.4 million company shares.
Aside from her investment and seat on the board, Weight Watchers says that Winfrey will also be involved with the company in other ways. In fact, Winfrey is also now a Weight Watchers member and she will openly be sharing her experiences throughout her Weight Watchers journey. In fact, the company offers a Meetings + Online Plus plan where members can readily share experiences in order to help motivate and support each other.
Meanwhile, Weight Watchers says it actually holds over 36,000 meetings a week. Here, its members get to learn about health eating patterns, physical activity and behavior modification while receiving group support.