Tupperware Brands Corporation (NYSE:TUP) shares are trading higher Tuesday on what appears to be continued upward momentum following a deadline extension for the company’s turnaround plans. The stock has gained 25% over the past five days.
What To Know:
Tupperware Brands filed an amendment with the SEC late Friday that extended the deadline for delivery of two quarterly financial reports, as well as the company’s turnaround plan, to Feb. 2. The amendment also said Tupperware Brands will issue an update on turnaround efforts on or before Jan. 19.
Tupperware shares are climbing on heavy trading volume Tuesday. According to data from Benzinga Pro, more than 5.5 million shares have already been traded in the session, compared to the stock’s 100-day average volume of 3.95 million shares.
Tupperware shares are trading above the stock’s 50-day moving average of $1.82 and below its 52-week high of $18.76. According to data from Benzinga Pro, 18.76% of shares are currently being sold short, which could be helping fuel some of Tuesday’s outsized move.
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TUP Price Action: According to Benzinga Pro, Tupperware Brands shares were up 15.4% at $2.36 at the time of publication.
Image: Mohamed Hassan from Pixabay
