WW - Why WW International Stock Bounced 6% Higher Today
2024-01-22 14:20:00 ET
Two weeks from now, WW International (NASDAQ: WW) , the company formerly known as Weight Watchers, will report its final earnings for 2023. Investors are nervous -- but a bit more hopeful today than in weeks past.
Ever since Novo Nordisk began selling diabetes and weight loss drugs Wegovy and Ozempic en masse, and especially after rival Eli Lilly announced the wide availability of its rival weight loss drug Zepbound this month, investors have been scared of what these big pharma offerings might do to WW International's diet business. The company's shares have been cut in half since the end of December.
Today, however, the stock is rising 6.4% through 11:30 a.m. ET -- and I think investors have Morgan Stanley to thank.
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Why WW International Stock Bounced 6% Higher Today