What's Going On With Tupperware Brands Stock?
Portfolio Pulse from Erica Kollmann
Tupperware Brands Corp (NYSE:TUP) is reportedly preparing to file for bankruptcy, causing its stock to crash. The company has breached debt terms and is seeking legal and financial advice. Tupperware shares fell 59% before Monday's close and continued to drop in after-hours trading.
September 16, 2024 | 9:00 pm
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Tupperware Brands is reportedly preparing to file for bankruptcy due to breached debt terms, causing a significant drop in its stock price. The company is seeking legal and financial advice.
The news of Tupperware preparing for bankruptcy is critical and directly impacts its stock price negatively. The breach of debt terms and the need for legal and financial advice indicate severe financial distress, leading to a 59% drop in stock price.
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