A Billionaire Made a Stock Double Today
Oprah Winfrey In case you missed it, a stock went up by over 100% today. The stock is Weight Watchers International $WTW, which closed at 6.79 yesterday, and today closed at 13.92, an increase of 105%. She paid $6.79 per share for 6.4 million shares. This amounted to $43.2 million. This rise was due to the announcement that billionaire Oprah Winfrey bought a 10% stake in the company, and was also named to the Board of Directors. In addition, she will become a celebrity endorser for the company. Winfrey has always created sales for the numerous products and books featured on her show. Now her charisma and following proves that she can make a stock skyrocket.