Tupperware Brands Corp.’s stock
TUP,
climbed 9.1% in premarket trades Monday, as shares of the beleaguered maker of iconic containers continued their rally. The stock ended Friday’s session up 3.7%, and have risen 277.9% in the past month. On July 24 Tupperware shares skyrocketed 75.6%, on no apparent news, marking its largest one-day percentage gain ever. Amid its surging share price, the company’s market capitalization hit $137 million on Friday. 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.
This story originally appeared on Marketwatch
