{"id":42679,"date":"2023-07-31T14:37:49","date_gmt":"2023-07-31T18:37:49","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/tupperware-stock-skyrockets-toward-a-record-450-gain-in-july\/"},"modified":"2023-07-31T14:37:51","modified_gmt":"2023-07-31T18:37:51","slug":"tupperware-stock-skyrockets-toward-a-record-450-gain-in-july","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42679","title":{"rendered":"Tupperware stock skyrockets toward a record 450% gain in July"},"content":{"rendered":"
\n

Tupperware Brands Corp.\u2019s stock skyrocketed Monday, and has more than tripled amid a four-day win streak, as the shares of the\u00a0beleaguered\u00a0maker of iconic food-storage containers continued their meteoric rally.<\/p>\n

The stock soared 44.5% in midday trading, to put it on track for the highest close since Feb. 3, 2023, and has rocketed 234.6% amid a four-day win streak.<\/p>\n

\n

Monday\u2019s rally adds to the stock\u2019s 242.2% rally last week, which was the biggest one-week gain since it went public in May 1996.<\/p>\n

So far in July, it has blasted 456.4% higher, which would also be a monthly record. The previous record was the 224.8% gain seen in July 2020.<\/p>\n

Related:<\/strong> How \u2018left-for-dead\u2019 Tupperware became a buzzy trading play<\/p>\n

The stock\u2019s historic rally kicked off after closing at a record low of 62 cents on July 18. The daily gains have been highlighted by the record 75.6% jump on July 24, despite no news being reported.<\/p>\n

Since the record low close, the stock has soared more than 7-fold (up 617.7%).<\/p>\n

Related:<\/strong> Tupperware\u2019s market cap almost triples as stock continues to skyrocket<\/p>\n

<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

Amid its surging share price, the company\u2019s market capitalization has reached $196.96 million.\u00a0On July 7, when Tupperware said that it had\u00a0entered a waiver agreement\u00a0with some of its creditors, the company\u2019s market cap hovered around $33 million.<\/p>\n

Tupperware\u2019s recent trading activity is reminiscent of spikes in other names also recently seen as \u201cleft for dead,\u201d as Samantha\u00a0LaDuc, founder of\u00a0LaDucTrading.com, put it to MarketWatch last week.<\/p>\n

The latest exchange data showed that short interest in Tupperware\u2019s stock, or bearish bets made, had climbed to a three-year high of 9.69 million shares, which 27% of the public float, or shares readily available for the public to trade. Read more about short selling and how it works.<\/p>\n

In comparison with a stock that some say has been subject to a rally induced by bearish investors covering their short bets, often referred to as a \u201cshort squeeze,\u201d Sirius XM Holdings Inc.\u2019s
\n SIRI,
\n -0.20%<\/bg-quote>
\n short interest represented 30.8% of its public float.<\/p>\n

<\/p>\n
<\/p>\n
\n \"\"\n <\/div>\n<\/figure><\/div>\n

In its preliminary full-year results reported in March, Tupperware sported an 18% sales decline compared with the prior year. Back then, Tupperware Chief Financial Officer Mariela Matute said in a statement that 2023 was expected to be a transition year for the company as it worked to stabilize its business and get on better financial footing.<\/p>\n

Related:<\/strong> Tupperware\u2019s stock craters after food-storage company warns it may go bust<\/p>\n

The following month, Tupperware issued a going-concern warning, essentially cautioning that it could go bust. Tupperware also announced the hiring of financial advisers to help it navigate its near-term challenges.<\/p>\n

The company is projected to release its next quarterly report later this week, according to FactSet.<\/p>\n

Emily Bary, Claudia Assis and Tomi Kilgore contributed.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tupperware Brands Corp.\u2019s stock skyrocketed Monday, and has more than tripled amid a four-day win streak, as the shares of the\u00a0beleaguered\u00a0maker of iconic food-storage containers continued their meteoric rally. The stock soared 44.5% in midday trading, to put it on track for the highest close since Feb. 3, 2023, and has rocketed 234.6% amid a […]<\/p>\n","protected":false},"author":1,"featured_media":42680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-42679","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nTupperware stock skyrockets toward a record 450% gain in July | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Tupperware Brands Corp.\u2019s stock skyrocketed Monday, and has more than tripled amid a four-day win streak, as the shares of the\u00a0beleaguered\u00a0maker of iconic\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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