WASHINGTON - Weight Washers share price went up as much as 13% to $52.96 in New York, the biggest intraday gain in two months thanks to Oprah Winfrey's speech at the Golden Globes.
Winfrey, who owns 10% of the weight-loss company and is featured in its ads, dominated coverage of the Hollywood awards show on Sunday night.
This dominance was well recived for Weight Watchers International Inc. investors.
In previous years, Weight Watchers ran a loss due to free fitness apps and years of many users unsubcribing from the service.
However, since Winfrey bought a stake, joined the board and agreed to pitch the brand the company has been doing extremely well.
Since then, her tweets about weight loss on the program have kept the shares up, which almost quadrupled last year.
The billionaire’s marketing halo has also helped the company add customers and increase revenue and profit in recent quarters.
After receiving the Cecil B. DeMille award for lifetime achievement, Winfrey gave a heartfelt speech that left many wanting her to run for US president in 2020.
Winfrey told Bloomberg News that she has no plans to run.
- BUSINESS REPORT ONLINE