WeightWatchers slides as Oprah Winfrey to donate stake, exit board

WW International

29/02/2024 10:01

** Shares of WeightWatchers  WW.O  slump 23% to $2.93
premarket 
    ** Media mogul Oprah Winfrey decides to donate her entire
stake in WW and exit the company's board of directors after
serving on the board since 2015
    ** Winfrey's decision comes as she seeks to eliminate any
perceived conflict of interest around her taking weight loss
medications, co says  
    ** Winfrey owned 1.13 million WW shares worth $6.34 million
as of Jan. 1, 2024, LSEG data showed; plans to donate all her WW
stock to National Museum of African American History and Culture
    ** Separately, WW expects revenue to decline between $830.0
mln and $860.0 mln in FY 2024 compared to $889.6 mln in 2023
    ** Analysts expected FY24 revenue at $902.49 mln - LSEG
    ** Stock has more than halved in value since the beginning
of 2024 after 126% surge last year

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))