Shares of WW International Inc. WW, which was formerly known as Weight Watchers, soared 25.2% toward a five-week high in premarket trading Tuesday, after the weight management and wellness company said it completed its acquisition of Weekend Health Inc., the telehealth company doing business as Sequence. The stock had rocketed 79.1% to a seven-month high of $6.93 on March 7 after the $132 million deal was announced, as the acquisition would provide WW a telehealth provider that prescribes weight-management and diabetes drugs. The stock but had pulled back since then to close Monday 40.5% below the March 7 closing price. “Given the advancements in chronic weight management medications, entering into clinical interventions, for those who medically-qualify, is a natural next step for WeightWatchers,” said WW Chief Executive Officer Sima Sistani. “Our goal is to provide sustainable, science-backed solutions to all weight health pathways, whether medications are part of an individual’s journey or not.” WW shares have gained 6.7% year to date through Monday, while the S&P 500 SPX has advanced 7.0%.
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