Oprah’s 26-pound weight loss just sent Weight Watchers stock skyrocketing
By Peter Holley
Oprah Winfrey loves "bread."
She also knows how to make large amounts of it for owners of Weight Watchers stock.
Weight Watchers shares skyrocketed today after Winfrey posted a video on Twitter announcing a 26-pound weight loss that occurred despite daily bread cravings that she said she has learned to "manage."
"This is the joy for me!" Winfrey states emphatically in the video. "I love bread! I love bread."
"I lost 26 pounds," she adds, "and I have eaten bread every. single. day."
The tweet — which says "Eat bread. Lose weight. Whaaatttt?" — also includes the hashtag: #ComeJoinMe
Within hours of posting it, shares of Weight Watchers (according to CNN Money.) increased 20 percent,
In a world with fitness apps, an endless array of food fads and a general cultural shift away from conventional dieting, Weight Watchers has never faced tougher competition.
Even so, Winfrey bought a 10 percent stake — about $43 million, according to securities filings — in the company in October, leading Weight Watchers stock to quickly double. The Washington Post's Drew Harwell called the development a "a rare morsel of good news for a struggling diet giant facing its darkest year in decades."
"The company," he added, "said Winfrey will use the Weight Watchers mobile app, work with a Weight Watchers coach and make appearances on the diet giant’s behalf."
Shares were priced at $6.79 at the time of Winfrey's purchase — down from about $80 at their peak in 2011.
After Winfrey's investment, CNN reported, the price doubled to more than $15 and reached as high as $28 by November, before falling to about $13.
"The company's market value rose by nearly $150 million after Oprah's tweet — a little more than $5.6 million for each pound she lost," CNN reported.