Tupperware Brands Corp.’s stock rose 29% Tuesday as shares of the beleaguered maker of iconic containers continued their recent rally.
The stock rose on trading volume of 131.16 million shares, well above its 65-day average of 13.08 million shares. Tupperware
TUP,
shares are trading around $5.51, putting the stock on pace for its highest close since Nov. 1, 2022, when it closed at $7.73, Dow Jones Market Data show.
Related: Tupperware stock skyrockets to a record 434% gain in July
Tupperware’s stock is on track to extend its winning streak to five days, its longest since a five-day streak that ended on Feb. 2, 2023.
The shares enjoyed record gains in July, when they added 434%. On July 24, the shares skyrocketed 75.6% on no apparent news, marking their largest one-day percentage gain ever.
Related: Tupperware’s market cap almost triples as stock continues to skyrocket
Amid the recent surge in its share price, Tupperware’s market capitalization hit $189.92 million on Tuesday. On July 7, when Tupperware said that it had entered a waiver agreement with some of its creditors, the company’s market cap hovered around $33 million. Tupperware’s recent trading activity is reminiscent of spikes in other names also recently seen as “left for dead,” as Samantha LaDuc, founder of LaDucTrading.com, put it to MarketWatch last week.
Tupperware shares are up 31.6% in 2023, outpacing the S&P 500’s
SPX,
gain of 19.3%.
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