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(Newser)
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The investment in Weight Watchers from Oprah Winfrey is significantly reduced, at least on paper, Wednesday morning. Shares fell 36 percent to 18.90 USD after the start of trading the day before, announcing that 2019 had had a disappointing start and had cost Oprah $ 58 million. (The beginning of the year is a critical financial period for health care companies.) Do not feel too bad for it. Fortune It notes an estimated value of $ 3.5 billion and that the company's 10% stake in Winfrey was purchased in 2015 at a price of $ 6.79, which allowed it to triple the value of its stock. But it was worth a lot, a lot more: the maximum of 52 weeks is $ 105.73. The shares are currently trading at $ 19.80.
USA Today & # 39; s take: "The company changed its name to WW in 2018 with the blessing of Winfrey, its goal being to ride a wave of interest in wellbeing and natural ingredients." But the pivot of the loss of weight can be the pivot. They are hiring Oprah as part of a turnaround effort, the AP signaling that the company hopes to increase the number of subscribers in the spring. Managing Director Mindy Grossman told shareholders that Oprah would play "a central role in our next TV and digital marketing campaign." (Read more stories from Oprah Winfrey.)
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