Jim Cramer dishes out on why WW has lost its subscriber base since its rebrand and how Planet Fitness' stock is still climbing toward to the sky.
div > div.group > p:first-child"> Planet Fitness and Weight Watchers' stocks for years have been boosted by healthy trends, but the latter is now carrying too much risk to recommend, CNBC's Jim Cramer said Friday.
Weight Watchers, which rebranded itself WW last September and added wellness initiatives, had an"ugly quarter with truly abysmal guidance," Cramer said. The diet program revealed modest earnings and slumping subscribers in the December quarter, alongside a disappointing 2019 forecast. The share price is down nearly 50 percent this year and nearly 70 percent compared to a year ago.
"WW ... feels like it's having an identity crisis," Cramer said."The Weight Watchers brand may have been kind of problematic, as the kids say, but at least you knew what Weight Watchers was for. People will pay $3 to $13 per month for help losing weight, but for wellness advice? Maybe that's a tougher sell."
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