What Weighed WW International Down So Much Today
Shares were already near multiyear lows. But, thanks to today's 20% tumble in response to the exit of a high-profile board member, WW International (NASDAQ: WW) stock hit its lowest-ever price on record. And the bottom may not have been hit yet.
Media mogul Oprah Winfrey is the director in question. She and the company entered into a partnership in 2015 that was expected to reignite interest in the then-waning weight loss brand, when it was still called Weight Watchers. The association had little lasting impact, though. The company's revenue as well as the stock's value are still both well below their 2012 peaks.
Winfrey says she will finish out her current term as director but will not seek to be re-elected to the board when elections are held in May. She adds that her 1.1 million-share stake in WW International will be donated.
Source Fool.com
