Wednesday, September 14, 2016

Oprah Loses $117m As Share Prices Plummet By 66%

Oprah Winfrey weight isn't the only thing that has dropped after losing $117 million when her Weight Watchers shares plummeted by almost 70 per cent.

The weight-loss company has seen a 66 per cent drop in share prices since the firm's November 2015 high after the former TV host announced she would become the face of the firm.

Oprah, who owns ten per cent of Weight Watchers, saw $117 million knocked off her own personal fortune by the falling share price. Meanwhile, the value of the company has dropped by $1.2 billion since its peak.

Shares were down another 68 cents, or 6.6%, to $9.68 Tuesday after the company said it is replacing its CEO of three years James Chambers at the end of the month.

But the price is still above the $6.79 share it traded for before Oprah came on board as its third biggest investor.

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