• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Meme stock Tupperware jumps as debt restructuring deal fires up retail army
Business

Meme stock Tupperware jumps as debt restructuring deal fires up retail army

August 4, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
Traders work on the floor of the NYSE in New York

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File Photo

Aug 4 (Reuters) – Shares of Tupperware Brands (TUP.N) surged 44% on Friday, after the kitchen storage container maker finalized a debt restructuring deal as it attempts a turnaround of its business, reinvigorating retail investors’ interest in the company.

The Florida-based firm raised doubts in April about its ability to continue as a going concern as it struggles with slumping sales.

Tupperware said on Thursday it had struck an agreement with its lenders which will help reduce or reallocate about $150 million of cash interest and fees, and would give it immediate access to a revolving borrowing capacity of about $21 million.

The agreement “provides a lifeline, yet the market environment may prove to be extremely difficult,” said Bartosz Sawicki, market analyst at financial services firm Conotoxia.

After a surge in demand for Tupperware containers to store food during the lockdown, the company has witnessed a slide in sales volumes since 2022.

Widely recognized for its bright-colored plastic airtight containers, the company had recently caught retail traders’ attention, which has helped drive a more than 449% share surge over the past three weeks.

Tupperware was the fourth most touted stock on investors-focused social media, stocktwits.com on Friday.

It was the seventh most traded stock by retail investors at 10:00 a.m. ET, according to J.P.Morgan data.

The price rally suggests “a lot of market participants were watching the company for this development,” said Peter Earle, economist at American Institute for Economic Research.

See also  Prominent investors rekindle affection for Amazon in Q2 as stock price jumps

The share gains were reminiscent of eye watering “meme stocks” rallies, where retail investors coordinate on social media and typically focus their speculative bets on companies that were financially struggling or had high short interest.

Analytics firm Ortex estimated 30.8% of Tupperware’s publicly available shares were shorted. Bearish investors have lost $33 million on paper in the past three weeks.

Tupperware was the second most actively traded single stock by retail traders over the past week, according to a J.P.Morgan note.

The company had a market capitalization of $156.56 million on Thursday, after shedding about 87% of its value since the end of 2020.

Yellow (YELL.O) and American Superconductor Corp (AMSC.O), the other meme stocks active over the past week, rose 17% and 4.3%, respectively on Friday.

Reporting by Medha Singh and Savyata Mishra in Bengaluru; Editing by Krishna Chandra Eluri

: .

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

How Road Races Are Making Space For The Slowest Runners

May 13, 2023

As Deadline Approaches, Afghan Beauty Salons Prepare For Closure

July 28, 2023

PacWest, Disney, Robinhood and more

May 14, 2023

Why Are People Inclining Towards Delta 8 Gummies?

April 26, 2023
Don't Miss

Short and Funny Sayings for a Happy Summer with Friends

Lifestyle May 9, 2025

I love the beach. Just looking at the calming sea to relax. Having fun in…

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,627)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Netflix Users Rage After Connection Errors and Outages

December 12, 2023

Netanyahu Offers Compromise on Future Reforms; Opponents Talk ‘Civil War’

July 27, 2023

TikTok’s Parent Company Blocked China Critics From Using The Popular App: REPORT

September 28, 2023
Popular Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.