Tuesday, September 13, 2016

Oprah is $117 Million Poorer as Weight Watchers Stock Down 66%

She must feel like Bill Ackman and his Herbalife shares. She should have sold a while back when the stock was at $28 in November of last year. (I know she cannot since selling such a large position would have moved the stock downward right away) In any case she is still up from when she bought it.

The media mogul and 10% owner of Weight Watchers has seen $117 million in wealth vanish as shares of the company have crashed 66% from their high notched November 2015 on enthusiasm over her involvement with the company. Shares of Weight Watchers are down another 68 cents, or 6.6%, to $9.68 Tuesday after the company said it is replacing its CEO. The value of the company has dropped $1.2 billion in value since the peak hit after Winfrey came on board.

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