Oprah Could Be Making Over $100 Million In Less Than 36 Hours On Weight Watchers Stock
Oprah Winfrey's wallet keeps getting fatter, as she could be making a paper profit of more than $100 million in less than 36 hours on her Weight Watchers International Inc. investment. The weight management services company's stock shot up 32% in afternoon trade Tuesday, after more than doubling on Monday, after it announced on Mnoday at 6:45 a.m. Eastern that Winfrey was taking a 10% equity stake, and was being granted options for to buy another 5%. The company said Tuesday that it had completed the sale of 6,362,103 shares to Winfrey, at $6.79. With the stock now trading at $18.37, that investment is worth $73.7 million more than when she bought it. If she exercises her option to buy 3,513,468 more shares of Weight Watchers at $6.97, she could be making a total of $112.6 million.
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