Oprah Winfrey sent the shares of Weight Watchers International (NYSE:WTW) up again after she tweeted that she lost 26 pounds using the company’s weight management program.
The stock price of Weight Watchers surged more than 19% to $13.32 per share today. In a video posted on her account Twitter Inc (NYSE:TWTR), Oprah said, “I lost 26 pounds and I have eaten bread every single day.”
This is not the first time for the stock to trade higher on Oprah’s revelations about her losing weight. The company’s stock price rose in October when she announced on the Ellen DeGeneres show the she lost 15 pounds.
During the same month, Oprah also announced her investment in Weight Watchers, and joined its Board of Directors. As part of her long-term partnership with the company, Oprah shares her experiences and perspectives while using the company’s weight management program.
In December, Weight Watchers climbed nearly 19% after Oprah released her inspiring video encouraging people to join the company’s weight management program.
Investors believe Oprah could help turnaround Weight Watchers
Some investors are believed that Oprah could help turn the weight management company around, which is struggling to compete with other companies offering weight management programs and fitness apps.
Short investors are betting that the stock price will go down. Data from Markit and Bloomberg showed that 16% short interest out of the outstanding shares of Weight Watchers, which puts it on the top 10% of the most shorted companies on the Russell 2000.
The short interest on the company’s stock reached as high as 20% on January 19, the highest percentage since March 2015, according to data.