Shares of Tupperware rose greater than 20% earlier than the opening bell, persevering with the meteoric rise that has greater than quadrupled the inventory’s worth for the reason that starting of July.
The beneficial properties are harking back to the inventory meme mania that has gripped markets lately, when a speculative frenzy despatched shares of struggling mall retailers surging. Shares of Tupperware had been value lower than $1 in early July and lately traded at about $4.27.
Tupperware stated in July that it anticipated inadequate liquidity to make curiosity funds underneath its credit score settlement. It stated this might power it to reorganize operations or liquidate. The corporate is anticipated to report quarterly outcomes tomorrow, in response to FactSet.