Weight Watchers Tumbles as Rebranding Fails to Wow Investors
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Weight Watchers International Inc.’s rebranding effort, including a redesigned magazine that rolled out this week, isn’t impressing investors.
Even as New Year’s resolutions promise to bring a wave of customers seeking to shed pounds, the shares tumbled 13 percent to $21.53 today in New York, following an 8.6 percent four-day slide. Today’s decline comes after volume in bearish put options climbed to 5 times the 20-day average on Dec. 31.