What's Going On With Tupperware's Stock?
Portfolio Pulse from Erica Kollmann
Tupperware Brands Corporation (NYSE:TUP) shares have surged over 35% in the past five days due to a meme stock revival. Despite the recent rally, the stock is down nearly 90% from its 2021 highs. The company reported a 14% decrease in revenue and a $55.8 million net loss in its recent quarterly report. High trading volume and significant short interest are contributing to large price movements.
May 20, 2024 | 2:12 pm
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Tupperware Brands Corporation (NYSE:TUP) shares have surged over 35% in the past five days due to a meme stock revival. Despite the recent rally, the stock is down nearly 90% from its 2021 highs. The company reported a 14% decrease in revenue and a $55.8 million net loss in its recent quarterly report. High trading volume and significant short interest are contributing to large price movements.
The stock is experiencing a significant short-term rally driven by retail traders and meme stock dynamics. Despite poor financial performance, the high trading volume and short interest are likely to continue driving price volatility in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100