Weight Watchers International, Inc. WTW shares are trading lower by $0.56 (5.5 percent) at $10.18 in Friday's session. The catalyst for the decline is a downgrade from Equal-Weight to Underweight by Morgan Stanley.
The issue spiked from $6 in October 2015 to $28.05 in November 2015 after Oprah Winfrey revealed a stake in the company. It has been dead money in 2016. In fact, it has been cut in half since its year-end 2015 close of $22.80.
Over the past four months, it has found support at or just below the $10.00 area and rebounded to the $12 area. In fact, its August through November lows were between $9.55 and $9.88.
After a lower open, it managed a brief bounce to $10.43 but quickly declined to $10.02 before attempting to rebound.
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