Seems Investors See Weight Watchers as a 'Before,' Not an 'After'

2015 is supposed to be a rebuilding year for Weight Watchers—the company is working its way through a refresh complete with new commercials and a revamped magazine featuring “beautifully prepared but not-so-perfect foods.” But judging from their stock in the last couple of days, investors aren’t biting.

That’s according to Bloomberg. Weight Watchers has been stumbling in recent years—for one thing, who needs the points system when you can download some free fitness app and publicly shame yourself on Twitter? Sales have been down for seven quarters straight, so it was time to do something. Apparently that something was a new look involving commercials like this one featuring our old pals the Holderness family:

Also this ad about your butt’s story, which says that “every butt has a story.” Not really sure what that means.

Well, so far Wall Street isn’t persuaded:

“Even as New Year’s resolutions promise to bring a wave of customers seeking to shed pounds, the shares tumbled as much as 15 percent to $21.21 today in New York, following an 8.6 percent four-day slide. Today’s decline comes after volume in bearish put options climbed to 5 times the 20-day average on Dec. 31.”