Shares of the odd, AA like institution Weight Watchers International are soaring pre-market after Oprah announced she took a 10% stake in the company.
The media titan declared her agreement to hold the shares for no less than five years, a vote of confidence from one of the most influential people in the world.
This may become a new trend—billionaire endorsements. Who needs corporate buybacks? Last week Ballmer buyers Twitter, this week Oprah buys Weight Watchers, what’s next week? Giorgio Armani buys Crocs?
Anyhow, let’s look back on when Tom Cruise went full Scientology on Oprah’s couch:
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Wonderful lede.
gracias