Media icon Oprah Winfrey just sold close to a third of her stock in Weight Watchers with significant earnings from her initial investment. Currently promoting what is slated to be another “Black Panther” movie for young black kids “A Wrinkle in Time” Winfrey purchased the dwindling stock for around $6.00 a share in 2015 and news about her participation in the company helped to skyrocket the stock to it’s most recent high of $73.97 last month after her Golden Globes speech as well as a previous announcement that DJ Khaled would come on board as a rep for the company to lure the hip hop generation via is massive social media presence.
The stock is now at $61.00 and Winfrey has sold for a significant profit multiplied by 10 times per share. Speculation loomed that Winfrey might be leaving the company but she made a statement that the move was meant to balance her investment portfolio, not to signal anything else. “I am deeply committed to Weight Watchers and continue to see a bright future for the company,” she said.