Oprah Winfrey loses 26 pounds and Weight Watchers stock soars

Oprah Winfrey loses 26 pounds on Weight Watchers as stocks soar

Oprah Winfrey’s recent weight loss is helping Weight Watchers score a victory on Wall Street.

Winfrey is a member of the popular weight loss service and also sits on the company’s board with a 10% stake in the company.

In a video posted to Twitter Tuesday afternoon Oprah announced she lost 26 pounds using Weight Watchers.

Oprah said she lost the weight even while eating bread every single day.

“I love bread!” she said in the video. The text of the tweet? “Eat bread. Lose weight. Whaaatttt?”

Shares of Weight Watchers soared more than 20% following that revelation.

Oprah took her 10% stake in the company in October but that wasn’t enough to stabilize the company’s stock at the time.

Shares were trading for less than $7 before the Oprah ownership announcement and immediately more than doubled to above $15 on news of her investment.

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The stock shot up to $28 by November but eventually cooled off to a recent average of $13. That includes Tuesday’s uptick in share pricing.

Weight Watchers CEO Jim Chambers said back in November that it did notice a big increase in the number of visitors to its website, thanks to Oprah.

There is still an uphill battle for Weight Watchers. The company is battling a rash of free fitness apps and trackers that have attracted many of the companies traditional customers.

Weight Watchers’ market valuation rose by $150 million after Oprah’s tweet. That’s about $5.6 million for every single pound she lost.

Written by Jeff Springer

Jeff Springer

Jeff Spring is the Finance & Markets Editor at BusinessPundit.com. He's currently spending his days backpacking across Europe. While he may be living outside of the United States, he stays connected to American financial markets and M&A's more than is probably healthy for any single person. His love of a good book and a Bloomberg terminal can't be understated. He can be reached at JeffSpringer@BusinessPundit.com