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Tupperware's stock rises 19% premarket, continuing rally

Tupperware Brands Corp.'s (TUP) stock rose 19.7% in premarket trades Thursday, continuing its rally. The stock ended Wednesday's session up 55.3%, for its highest daily percentage gain since July 27, when it gained 56.3%, and is on a two-day winning streak. In an SEC filing Tuesday, Tupperware confirmed that it had entered into the fifth amendment to a credit agreement. The amendment extends the deadline for delivery of the company's annual audited financial statements for the fiscal year ending Dec. 31, 2022 from Sept. 16, 2023 to Nov. 1, 2023, among other things. The company's stock has attracted plenty of attention in recent months, despite Tupperware's woes. Back in April, the company issued a going-concern warning, essentially cautioning that it could go bust. Nonetheless, shares of the beleaguered maker of iconic food-storage containers enjoyed a record 434% gain in July on no apparent news.

-James Rogers

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10-12-23 0714ET

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