Tupperware Brands Corp.’s stock experienced a significant boost, rising by 12.7% in premarket trades on Wednesday. This continuous rally comes after the stock ended Tuesday’s session with a remarkable 28.2% gain—the largest single-day percentage increase since August 4th when it surged by 35.3%. Despite the challenges faced by the company, its stock has managed to garner significant attention in recent months.
Back in April, Tupperware issued a going-concern warning, indicating potential financial difficulties. However, the company has seen positive developments regardless. In its most recent filing, Tupperware announced that Richard Goudis, the former CEO of Herbalife Ltd., plans to resign as Tupperware’s executive vice chair and director. Importantly, the filing clarified that Goudis’ decision to step down was unrelated to any disagreement with the company or its management.
Over the past three months, Tupperware’s stock has seen a staggering increase of 111.8%. This remarkable growth stands in stark contrast to the 1.8% decline witnessed by the S&P 500 index during the same period.
As Tupperware continues to navigate its challenges, its stock price remains a focal point for investors and analysts alike.
