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Oprah Buys 10% of Weight Watchers, Sees Huge Return


by Nathan Vardi

Call it the Oprah effect or Oprah’s golden touch. But Oprah Winfrey’s magic has worked in the stock market for the second straight day.

Winfrey announced on Monday morning that she had agreed to purchase a 10% stake in Weight Watchers International and had signed a collaboration deal to promote the diet company and its services. The announcement has caused shares of Weight Watchers to soar. With the stock changing hands for around $18, Winfrey has single-handedly generated $700 million in stock market value in two days, given that the company has 63.6 million shares outstanding following the Winfrey deal.
Shares of Weight Watchers are up about 170% since they opened for trading on the New York Stock Exchange on Monday morning. Weight Watchers’ stock doubled in value on Monday and rose by another 30% or so on Tuesday.

Continue reading at Forbes

Photo: DFree / Shutterstock.com

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