Media icon, actor and entertainment executive Oprah Winfrey’s buzzworthy speech Sunday night at the Golden Globes has generated speculation that she could run for president in 2020 — but it’s also had a more immediate effect.
On her brand and net worth.
The feverish publicity rippling from Winfrey’s soaring speech — in which she hailed brave women who have spoken up about sexual harassment and abuse — appears to have translated into a sharp boost for one of her key endorsements and investments.
Weight Watchers, whose stock has skyrocketed since Winfrey bought 10% of the company in October 2015, got another lift Monday.
The dieting company’s shares jumped 10.2% to $51.68 at 10:32 a.m.
Presumably, investors are thrilled at the enormous and unexpected round of positive publicity for Winfrey’s brand.
Weight Watchers representatives were not immediately available for comment Monday morning. A spokesperson for Winfrey was also not immediately available for comment.
Since Winfrey enthusiastically backed Weight Watchers, crediting it with helping her shed pounds, the company has been on a tear. Membership, sales and profits have soared.
Winfrey, who also serves on the company’s board, bought her stock at $6.79 apiece for a total investment of $43.2 million in 2015, according to a Securities and Exchange Commission filing.
As of Jan. 2, she owned 9.9% of the company, according to S&P Global Market Intelligence. She is also CEO of the cable channel OWN.
With 6.37 million shares in Weight Watchers, she made a paper profit of nearly $30 million on Monday morning. That’s still a drop in the bucket for Winfrey’s net worth, which Forbes has estimated at $2.8 billion.
But it could go a long way toward jump-starting a presidential campaign.
Culled from :https://www.usatoday.com
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