WW is down 25% after Oprah's disclosure that she was using a weight loss drug instead of just dieting:
https://variety.com/2024/biz/news/o...htwatchers-board-weight-loss-drug-1235926484/
"Oprah Winfrey will leave the board of WeightWatchers after almost 10 years, following the entertainment mogul’s revelation that she is using a weight-loss drug.
Winfrey informed the company this week that she decided to not stand for reelection at the annual meeting of shareholders to be held in May 2024. She has served on the company’s board since 2015 when she acquired a 10% stake in WeightWatchers.
Winfrey owns about 1.1 million shares of WW International, representing a 1.43% stake in the company, according to data provider FactSet. At the current stock price, that’s worth less than $3.5 million. Her initial investment for 6.4 million shares of the company totaled $43.2 million.
Winfrey’s agreement with WeightWatchers specifies that she “will not engage in any other weight loss or weight management business, program, products or services” during the term of her relationship with the company and for one year afterward, according to the company’s filings with the SEC.
After the disclosure that Winfrey will leave WeightWatchers’ board, shares of WW International fell more than 20% Friday. With her departure, the company’s board will be reduced from 10 members to nine."
https://variety.com/2024/biz/news/o...htwatchers-board-weight-loss-drug-1235926484/
"Oprah Winfrey will leave the board of WeightWatchers after almost 10 years, following the entertainment mogul’s revelation that she is using a weight-loss drug.
Winfrey informed the company this week that she decided to not stand for reelection at the annual meeting of shareholders to be held in May 2024. She has served on the company’s board since 2015 when she acquired a 10% stake in WeightWatchers.
Winfrey owns about 1.1 million shares of WW International, representing a 1.43% stake in the company, according to data provider FactSet. At the current stock price, that’s worth less than $3.5 million. Her initial investment for 6.4 million shares of the company totaled $43.2 million.
Winfrey’s agreement with WeightWatchers specifies that she “will not engage in any other weight loss or weight management business, program, products or services” during the term of her relationship with the company and for one year afterward, according to the company’s filings with the SEC.
After the disclosure that Winfrey will leave WeightWatchers’ board, shares of WW International fell more than 20% Friday. With her departure, the company’s board will be reduced from 10 members to nine."