Tupperware has soared more than 800% over the past 2 weeks as investors pile into the stock, dinging short sellers. Read more.
have bought US$15-million worth of Tupperware shares since July 21, when the company’s market value stood at US$40 million, data from Vanda Securities show. Since then its more than quintupled to US$224 million.
On June 30, the company reached a waiver agreement with some of its creditors, but still forecast having insufficient liquidity to make its July interest payment.The company’s shares soared during the COVID-19 pandemic, as more people eating at home boosted sales of kitchenware. It didn’t last. The stock dropped 97 per cent in the two and a half years following a January 2021 peak.
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