Weight Watchers Soars on Dj Khaled Endorsement
SHARES OF WEIGHT WATCHERS ROSE MORE THAN 6% ON TUESDAY AFTER THE COMPANY SIGNED GLOBAL MUSIC STAR DJ KHALED
(CNN) – Weight Watchers is hoping a new endorsement could fatten its stock portfolio.
Global pop music star DJ Khaled has signed on to be a “social media ambassador” for the company.
He says he’s lost 20 pounds on the program and is sharing his success with his millions of followers on Facebook, Twitter, Instagram and Snapchat.
Weight Watchers stock rose more than six percent on Tuesday.
Oprah Winfrey bought a 10% stock in the company in 2015.
The company says DJ Khaled will work with a coach and use its mobile app to keep track of his health and fitness goals.
The news release didn’t say anything about payment for endorsing the company.