Weight Watchers stock prices soar following Oprah Winfrey campaign
Weight Watchers has seen their stock price soar almost 30 per cent over the past two days since Oprah Winfrey shared a video campaign she has fronted for the weight-loss program provider.
The video is part of Weight Watchers’ new campaign to showcase its latest holistic approach to food, fitness and wellbeing, and includes advice from brand ambassador, Oprah Winfrey. Winfrey shared the video supporting the company on her Twitter account two days ago (29th December) to a reception of 30 million followers.
Winfrey first announced her partnership with Weight Watchers in October, when she bought 10% of WTW stock and joined the board of directors. Winfrey cited her own success on the Weight Watchers program as part of why she chose to invest in the company. On the 19th October Winfrey tweeted: “I believe in the @weightwatchers program so much I decided to invest, join the board, and partner in #wwfamily evolution.”
Stocks were trading at $6 a share when Winfrey bought 10 per cent of the company, equating to $40 million in stocks, and by the end of the day Winfrey's investment had doubled. Right now, the value of her 10% stake is almost $150 million.
24/7 Wall Street notes the driving force for the spike in stock prices as a well-timed campaign; the commercials promoting healthy weight loss with Oprah Winfrey are running right ahead of the” New Year’s resolution crunch”.