WeightWatchers’ Worst Month Ever Wipes Out Obesity-Drug Gains
- Lilly’s drug-delivery push, weak subscriber signs are worries
- WW shares more than doubled in 2023 after Sequence acquisition
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.