Fortune February 1, 2024
WW International Inc. suffered its worst month on record in January, erasing the wellness company’s advance since it said in March that it was entering the growing market for a new class of weight-loss drugs.
WW, better known as WeightWatchers, slumped 6.1% on Wednesday, bringing its decline for the month to 57% amid emerging competition and concern around subscriber growth. The latest drop came as part of a broad market slide Wednesday after Federal Reserve Chair Jerome Powell signaled officials aren’t rushing to cut interest rates.
The performance is a stark reversal from 2023. The stock notched its biggest one-day gain since 2015 on March 7 after WW struck a deal for telehealth obesity-drug provider Sequence. Enthusiasm around the...
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