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Tupperware shares rise more than 12% premarket, continuing rally

Tupperware Brands Corp.'s (TUP) stock rose 12.7% in premarket trades Wednesday, continuing its rally. The stock ended Tuesday's session up 28.2%, registering its largest single-day percentage gain since Aug. 4, when it gained 35.3%. The company's stock has attracted plenty of attention in recent months, despite Tupperware's woes. Back in April, Tupperware issued a going-concern warning, essentially cautioning that it could go bust. In a filing Tuesday, Tupperware said that former Herbalife Ltd. (HLF) CEO Richard Goudis plans to resign as Tupperware's executive vice chair and director. "Mr. Goudis' decision to resign from the Company was not due to any disagreement with the Company, its management or the Board of Directors on any matter relating to the Company's operations, policies or practices," Tupperware said in the filing. Tupperware's stock has climbed 111.8% in the last three months, compared with the S&P 500 index's decline of 1.8%.

-James Rogers

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10-11-23 0812ET

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