Weight Watchers stock is going bananas (WTW)
Weight Watchers is soaring Wednesday after the company's first advertisement featuring Oprah Winfrey was released online.
The stock is up over 16%, at $22.58, near 12pm ET.
Winfrey, who took at 10% stake in the dieting company in October, tweeted out a new ad Tuesday featuring her talking about her struggles with her weight.
"Are you ready? Let's do this together," says Winfrey in the minute long video. It also features old footage of Winfrey running and working out on an elliptical machine.
https://twitter.com/mims/statuses/681881535268519936
Why I joined Weight Watchers. Come Join Me. Let's do this together. https://t.co/jUgpk9ToXY https://t.co/4DQvzMh23R
The company's shares were already up just over 185% year-to-date at the end of trading Tuesday since Winfrey's stake in the company was disclosed.
While the ad debuted on TV on Christmas Eve, Oprah tweeted to her more than 30 million followers Tuesday morning and there has been significant online reaction.
Previous to Winfrey's investment the stock had been struggling, but while Oprah may not be able to fix the underlying issues with the company, it does seem her support has helped the stock.
Investing.com
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