Market Overview

Weight Watchers Drops After Oprah Says She Isn't Interested In Running For President

Weight Watchers Drops After Oprah Says She Isn't Interested In Running For President
Related WTW
From WW To Dunkin': A Look At Some Of The Biggest Corporate Name Changes
Morgan Stanley: The Street Is Overestimating Weight Watchers' Addressable Market

Weight Watchers International, Inc. (NYSE: WTW) plunged more than 6 percent pre-market Thursday after spokesperson Oprah Winfrey denied speculation of her presidential ambitions.

“I’ve always felt very secure and confident with myself in knowing what I could do and what I could not,” Winfrey told InStyle. “And so it’s not something that interests me. I don’t have the DNA for it.”

Hope for Oprah 2020 had propelled Weight Watchers’ stock 13.6 percent earlier this month. The prospect of her election wasn’t unjust; those closest to Winfrey confessed her consideration.

"It's up to the people," longtime partner Stedman Graham said at the time. "She would absolutely do it."

News of the philanthropist and media personality has correlated with Weight Watchers stock movement since Winfrey joined the program, the board and the investor base back in 2015. Shares tend to pop on her endorsements, a phenomenon not seen in other affiliated companies.

Neither CBS Corporation (NYSE: CBS) nor Discovery Communications Inc. (NASDAQ: DISCA), where Winfrey respectively serves as a “60 Minutes” correspondent and CEO of the Oprah Winfrey Network, are affected by her movements.

At time of publication, Weight Watchers was down 3.8 percent at $64.75.

Related Links:

Can Oprah Do For Kraft Heinz What She Did For Weight Watchers?

Investors Shouldn't Bet Against Oprah

Photo by Bill Ebbesen/Wikimedia.

Posted-In: Donald Trump Golden Globes InStyleNews Politics Top Stories Movers General Best of Benzinga


Related Articles (DISCA + CBS)

View Comments and Join the Discussion!

Morgan Stanley Projects A Q1 Beat For Apple

Benzinga's Top Upgrades, Downgrades For January 25, 2018