Stitch Fix interests jumped more than 14 percent Wednesday afternoon on gamble via social media that media mogul Oprah Winfrey choice be taking a stake in the subscription box company.
A representative for Winfrey later announced Bloomberg the speculation wasn’t true. Stitch Fix declined CNBC’s demand for comment.
Stitch Fix’s stock later trimmed back more than half of its produces and was last up about 6 percent.
Winfrey is known for her role at Weight Watchers since fit a brand ambassador and taking a stake in the weight-loss platform, starring in its commercials and buying materials. Weight Watchers shares have accelerated tremendously in modern months and are up more than 230 percent from a year ago.
At Stitch Fix, the supply has been on a tear of late as the platform has been growing its active owner base and growing its bench of retail executives. The company also recently rolled out a in step for kids apparel, expanding beyond those for women and men.
Stitch Fix, which stirred public late last year, has a market capitalization just enveloping $2.6 billion today. The stock hit a 52-week high Wednesday of multitudinous than $29 apiece.