Oprah Winfrey generates $700 Million in two days of stock trading
This week, Oprah Winfrey reminded everyone just why she's the richest black woman in North America.
This week, Oprah Winfrey reminded everyone just why she’s the richest black woman in North America.
Monday morning, she announced that she’d agreed to purchase a 10% stake in Weight Watchers International, and in under two days the company doubled in value.
According to Forbes,
The announcement has caused shares of Weight Watchers to soar as investors scrambled to buy shares with the company. With the stock changing hands for around $18, Winfrey has single-handedly generated $700 million in stock market value in two days, given that the company has 63.6 million shares outstanding following the Winfrey deal.
Shares of Weight Watchers are up about 170% since they opened for trading on the New York Stock Exchange on Monday morning. Weight Watchers’ stock doubled in value on Monday and rose by another 30% or so on Tuesday.
In addition to scoring a big win for the weight loss juggernaut, the media mogul’s 10% stake is now worth $110 million.
Making more money in two days than most American families make their whole lives comes at a price, though. It is now on Winfrey’s shoulders to live up to the hype and ensure Weight Watchers meets investors’ expectations.
