What a difference a day made for Tupperware Brands (NYSE: TUP) . The food storage products mainstay had an awful Tuesday following media reports that the company was essentially gutting its investor relations (IR) efforts. Wednesday morning brought a new development in that situation, however, and the stock enjoyed a very healthy gain of slightly over 19%.
After market hours on Tuesday, Tupperware announced that it has hired a new vice president of IR and strategy, effective that day.
This is Douglas Lane, a veteran financial analyst and brand marketing specialist who has founded or co-founded businesses in both disciplines. Most recently, he also served as founder, principal, and director of research for one of those enterprises, Lane Research. Interestingly, Lane Research's stock coverage included familiar consumer goods titles, one of which was Tupperware.
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Why Tupperware Brands Soared 19% Higher Today