An announcement Tuesday by Oprah Winfrey is being credited with sparking a surge in the stock price of Weight Watchers, a diet company in which Winfrey owns about 10% of the stock — 6.4 million shares — and sits on the board.
USA Today reports that Winfrey tweeted a video Tuesday announcing that she had lost 26 pounds on a Weight Watchers diet while continuing to eat bread every day. Soon after the announcement went out, share prices surged 20%, closing Tuesday at $13.29. (The stock had been trading at $11.35 before the tweet circulated, USA Today notes.)
The report notes that the announcement was apparently worth about $12.5 million to Winfrey as her stock value rose.