Jim Cramer Warns 'Look Out!' After Meme Traders Take Over In July: Why He Says Broader Market Is Spoiled, Tupperware Headed For Bankruptcy
Portfolio Pulse from Adam Eckert
Jim Cramer warns that the recent surge in meme stocks, including Tupperware Brands Corp (TUP), is a bad omen for the broader market. Tupperware shares soared over 430% last month due to a retail-driven short squeeze. Cramer believes Tupperware is headed for bankruptcy despite its recent popularity among retail traders.
August 04, 2023 | 9:58 am
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NEUTRAL IMPACT
A surge in AMC Entertainment's shares at the beginning of last week appears to have sparked the recent meme stock frenzy, including the surge in Tupperware's stock.
While AMC's stock surge appears to have sparked the recent meme stock frenzy, the company's stock has since pulled back. The impact on AMC's stock price is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Tupperware's stock soared over 430% last month due to a retail-driven short squeeze, but Jim Cramer predicts bankruptcy for the company.
The surge in Tupperware's stock price is driven by retail traders, not by the company's fundamentals. Jim Cramer's prediction of bankruptcy for the company could lead to a sell-off.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100