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WW International (WW) — formerly Weight Watchers — stock plunges after the company announced Oprah Winfrey is leaving its board of directors. While Winfrey has sat on the WW board since 2015, it was revealed she uses GLP-1 weight loss drugs despite being a vocal critic of the trend.
WeightWatchers' parent company Weight Watchers International flopped over 27% in pre-market Thursday trades after chat show icon Oprah Winfrey announced her departure from the board. Winfrey, who has been on the board since 2015, will not stand for re-election in WeightWatcehrs' upcoming annual meeting in May.
WW International, Inc. (WW) Q4 2023 Earnings Call Transcript
The weight-management-services company said that Winfrey is also selling her stock in WW to donate the funds to the National Museum of African American History and Culture.
Shares of WW International Inc., better known as Weight Watchers, tumbled after hours on Wednesday, as the weight-loss platform said Oprah Winfrey planned to leave its board and donate her stake in the company after revealing that she used a weight-loss drug.
WW International (WW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Investors shouldn't discount the influence of Oprah Winfrey. Weight Watchers' shift to prescribing GLP-1 drugs could pay off.
NEW YORK, Feb. 14, 2024 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) (“WeightWatchers,” “WW,” or “the Company”) will release its results for the fourth quarter and full year 2023 after market close on Wednesday, February 28, 2024.
WW International had a fantastic year in 2023, but things are off to a catastrophic start in 2024. Eli Lilly's launch of a new service to offer weight-loss drugs poses a big threat to WeightWatchers.
WW International stock has been hammered as consumers flock to new miracle weight loss drugs from big pharma. Downloads of the company's weight loss app are down less than 50% -- but the company's stock price is down more than 50%.