Weight Watchers' Stock Skyrockets After Oprah Buys 10 Percent Stake

Author:
Publish date:
Oprah Winfrey/Photo by PR Photos

Oprah Winfrey/Photo by PR Photos

Oprah Winfrey still has the midas touch. The entertainment mogul just caused Weight Watchers stock to "soar", by purchasing a 10 percent stake in the company, reports Forbes

The OWN founder shelled out $43 million for a block of stock in Weight Watchers. She also has the option to purchase an additional 5 percent and snagged a seat on the board of directors. Weight Watchers shares went up 92 percent after news broke of Winfrey's purchase. 

“Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for,” Winfrey said in a press release. “I believe in the program so much I decided to invest in the company and partner in its evolution.”