2023-07-24 11:04:30 ET
Tupperware Brands Corporation ( NYSE: TUP ) soared in early Monday trading on sky-high volume amid heightened interest in the survivability of the consumer products company.
Shares of Tupperware Brands ( TUP ) were up 64.44% to $1.48 at 11:05 a.m. and swapped hands as high as $1.82 earlier in the session. The 52-week trading range on TUP is $0.61 to $12.86. Volume on Tupperware Brands ( TUP ) was over 82M shares, with more than five hours of trading still left. Short interest on TUP is over 23% of the total float.
Tupperware ( TUP ) did not issue any company news or post a SEC filing to account for the huge swing higher.
In April, Tupperware's ( TUP ) board actively engaged with management to improve the company's capital structure and near-term liquidity. TUP also engaged financial advisors to assist in securing supplemental financing, and said it was in discussions with potential investors or financing partners. TUP is reviewing its real estate portfolio for properties available for potential dispositions or sale-leaseback transactions, and is exploring right-sizing efforts, monetization of fixed assets, cash management, and marketing and channel optimization, to preserve or deliver additional liquidity.
More on Tupperware Brands:
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- More articles from Seeking Alpha analysts
- Growth metrics on Tupperware Brands
- Tupperware Brands earnings estimates
- Seeking Alpha's Quant Rating for Tupperware Brands
For further details see:
Tupperware spikes 64% as shorts get put to the test