Florida-based Tupperware shares have skyrocketed despite a poor financial outlook for the company.
that, because it’s market capitalization was so low—less than $50 million—it wasn’t in compliance with listing requirements.
The stock shares a lot of similarities with a group of stocks known as “meme stocks” such as GameStop and AMC Entertainment: it’s rising in price despite poor financial performance, and it is highly shorted.
Tupperware’s stock boost some, mostly through jokes, but it’s unclear whether the community contributed to the price increase through a coordinated effort.9.69 million. That’s how many shares of Tupperware are shorted right now, representing 27% of all shares of the company, according to investment data firmEarlier this month, Blackrock, the behemoth investment company, stepped in as an investment partner to Tupperware.
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