Source: Don Arnold / Getty
Stock for Weight Watchers crashed on Friday and the biggest individual loser was Oprah Winfrey.
Winfrey saw her stake at Weight Watchers drop, putting her $29 million in the hole. The company saw a sharp turnaround when Oprah bought a 10% stake last October 2015. Her star status made the stock price double for Weight Watchers.
Weight Watchers CFO blamed the loss on the winter season and the fact that memberships where down coming into the new year. Stock analyst say, 2016 is a transitional year for the company and will take time for consumers to notice all the changes with Weight Watchers.
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Oprah Is $29 Million In The Hole With Weight Watchers was originally published on 92q.com
