Oprah Winfrey Loses $50 Million in a Disappointing Stock Price Tumble
The year didn’t start well for media mogul Oprah Winfrey, who lost close to $50 million due to a bad investment decision. Winfrey lost her hard-earned money after Weight Watchers (WW) stock price crashed. Following WW’s report that it had fewer subscribers compared to its expectation, its profits took a steep tumble as investors began to pull out. Many shareholders like Winfrey didn’t have a soft landing when this crash happened and she paid heavily with her shares.
Winfrey owns about 8% of Weight Watchers after offloading 2% of her share in 2018. WW was disappointed with the way 2019 is turning out for her business-wise. The stock prices rose to $29.57 per share before they collapsed to $19.42 this year.
This sharp decline in value saw Winfrey loss of $50 million. However, WW hopes to gain more subscribers with the support of Winfrey’s digital and television marketing campaign. The upcoming campaign will give the company a lift in its financial challenges.
Meanwhile, do you know that Gayle King and Winfrey have been the best friends for two decades? The two know how to tease each other and they do it on live television for us to laugh out loud. Winfrey handles how WW’s loss in good faith because her fortune is still encouraging.
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