New meme darling Tupperware continues recent surge

Tupperware Brands

01/08/2023 12:01

** Shares of Tupperware Brands  TUP.N , which recently
joined the meme stock ranks, rises 27.2% premarket to $5.43,
highest since last Nov
    ** TUP on Monday jumped ~39% and was the second-most
actively traded stock on Fidelity's retail customer platform
    ** Over the past seven sessions, stock has surged from 67
cents to close at $4.27 on Monday with no apparent news catalyst
    ** Stock finished July with record monthly gain of ~434% and
is now up ~3% YTD
    ** Short interest in TUP stood at ~25% of public float as of
July 14, per Refinitiv data
    ** The home and kitchen products seller in April raised
doubts about its ability to continue as a going concern amid
weak sales, and a month later said it would explore strategic
alternatives
    ** TUP is among the most watched tickers on
individual-investor-focused Stocktwits.com with an "extremely
bullish" sentiment score

 (Tupperware has no family relation or connection to the author
of this piece)
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))