Oprah Winfrey's stake in Weight Watchers falls by $48 million in minutes after shares crater 30 percent
Oprah Winfrey stake in Weight Watchers fell by almost $48 million, at least on paper, after the dieting company released a weak earnings results Tuesday. Shares of the company cratered 30 percent after reporting disappointing fourth-quarter earnings and giving investors a weak outlook for 2019. Winfrey owns more than 5 million shares of Weight Watchers, or about 8 percent of the company, according to FactSet. Winfrey's stake in Weight Watchers was valued at $160.
It quickly plunged when the company released its earnings after the markets closed, falling to $112.1 million, erasing $48 million in value within minutes of after-hours trading. Winfrey's original investment, however, is still in the black. She bought 6.4 million shares of Weight Watchers at $6.79 a share in October 2015, worth $43.2 million at the time, according to a Securities and Exchange Commission filing. She also joined the company's board of directors.
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