Did Oprah Winfrey's Golden Globes Speech Boost Weight Watchers Stock?
Financial analysts think so.
When it comes to business, anything Oprah Winfrey comes into contact with turns to gold, and Weight Watchers is the latest company to benefit from her Midas touch.
Following the Jan. 7 Golden Globes — where the Cecil B. DeMille Award recipient accepted the honor with a passionate speech about the #MeToo movement and the power of living your truth — the weight-loss brand’s stock recorded a new high, with shares increasing 13 percent on Monday, Jan. 8, after the Winfrey-related news. (It probably didn't hurt that the star looked sensational onstage, flaunting a recent 42-pound weight loss in a custom Versace gown.)
Weight Watchers witnessed its stock price hit $63.10 per share on Jan. 17, Nasdaq reports, attributing the spike to the speech and ensuing rumors of a possible Winfrey presidential campaign.
The 63-year-old Winfrey first became involved with then-struggling Weight Watchers back in 2015, investing a whopping $43 million for a 10 percent stake in the company. After she became a board member and the face of several campaigns and commercials in 2017, shares surged over 550 percent — an impact financial analysts have nicknamed the “Oprah Effect.” DJ Khaled was tapped as a social media ambassador for the brand earlier this month.
So will the media mogul actually run for president? Only time will tell, but if so, Weight Watchers’ investors and shareholders could be poised for a Winfrey windfall.