Tupperware stock (NYSE:TUP) was caught in a frenzy of trading activity on Monday. The consumer products company’s share price skyrocketed to a peak of $1.82 at one point before pulling back. Over 82 million shares changed hands despite a lack of news or SEC filings. Therefore, this could potentially be the result of a short squeeze, as Tupperware has more than 23% of its total float sold short.
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Back in April, Tupperware’s board joined forces with its management to tackle the company’s capital structure and near-term liquidity issues. They’ve brought on financial advisors to help secure additional financing and initiated conversations with potential investors or financing partners. Currently, Tupperware is reviewing its real estate assets for potential dispositions or sale-leaseback deals. They’re also considering resizing strategies, fixed asset monetization, cash management, and marketing and channel optimization as ways to bolster their liquidity.
A look at the past five trading days for TUP stock highlights the level of impact today’s news had on it. Indeed, shares jumped over 75% at the time of writing. As a result, investors are now up 155.87% during this timeframe.
