Posted on 02/27/2019 1:54:51 PM PST by jeannineinsd
Oprah Winfrey was likely feeling a lot lighter Tuesday evening – in her investment portfolio.
After the stock of WW (formerly Weight Watchers) nosedived in after-hours trading, the wellness company’s single biggest individual investor was down anywhere from $39 million to nearly $48 million, according to reports.
The stock, which was priced around $103 per share last June, sank to about $22 per share late Tuesday, reports said.
The drop followed WW Chief Executive Mindy Grossman’s disclosure to analysts that WW would have fewer members in 2019 than in 2018, the New York Post reported.
Grossman blamed the company’s winter advertising efforts, saying they “did not drive consumers in the way we had hoped.”
“Our marketing … needed to be more weight-loss focused, especially in the January season,” Grossman said.
Winfrey, who famously shared stories of her personal struggles with weight during her days as an afternoon talk-show host from 1986 to 2011, owns more than 5 million shares in WW, according to CNBC, which cited a January filing with the Securities and Exchange Commission.
That translates to more than 8 percent of the company, Bloomberg reported.
Grossman said Tuesday that Winfrey herself will be featured in WW’s future advertising.
“Looking ahead, I’m happy to say that Oprah Winfrey will play a central role in our upcoming TV and digital marketing campaign for spring, bringing to life a clear message on how WW is the program that works,” Grossman said in a statement. “Together with Oprah, we are also working on an initiative to galvanize and bring together communities through a series of digital and live experiences and events to accelerate WW’s impact and allow us to reach new and diverse audiences.”
(Excerpt) Read more at foxnews.com ...
Weight Watchers app is costly and it doesn't always work properly. The free calorie counting apps are more reliable, and are FREE!
“the wellness company’s single biggest individual investor was down anywhere from $39 million to nearly $48 million, according to reports.”
Should we get up a go fund me page to help her out? /s
One would think that the Oprah alone would keep the stock propped up.
Doesn’t help your weight loss company when your top spokesperson is fat.
Why do they say they are “WW” instead of Weight Watchers?
Why do other organizations do this, as if the initials don’t stand for the name of the organization?
NARAL states that NARAL no longer stands for National Abortion Rights Action League.
AARP states that AARP no longer stands for American Association of Retired Persons.
Just wondering, a bit off topic. It takes fewer syllables to say “Weight Watchers” than to say “WW”.
She above all should know about the rule of diversity er, diversification.
They grossly overestimated Oprah’s appeal with the half of the population she publicly dissed
“Republicans buy shoes, too.”
That's like one of us losing $5 in a slot machine. Regrettable, but not a disaster. ;o)
yes, their 200 ‘free point’ food list is available to print out for free.
That’s a big 10-4.
Looks like Weight Watchers stock is the one on a diet.
Reading the brilliant replies here, it seems if freepers had been on the board of directors, the stock wouldn’t have plunged!
IMO, it seems she’s GAINED weight since becoming their spokesperson.
I had an ex-GF who told me that she didnt do WW because if Orcah was the spokesperson, then why is she fatter than her (my ex GF)?
“Doesn’t help your weight loss company when your top spokesperson is fat.”
Howard Stern remarked on-air years ago that “she had been arrested by the Atlanta Airport TSA for carrying 50 pounds of crack!”
Quadrupling up on WW meals can have that effect.
Bah. WW paid Mz. O in stock to be their spokesperson a few years ago, so she’s not out real cash.
Don't ask about the NAACP.
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