For Those w/ Speculative $ for Stocks- Tupperware (TUP)
Posted: Wed Jul 26, 2023 6:20 pmFor those who have a speculative component to their stock portfolios...
You might want to consider Tupperware (Ticker: TUP). Right now it reminds me of the meme stock craze a couple years ago (AMC, BBBY, CVNA, GME, etc.). Look back and you will see those stocks went absolutely wild, but came down hard after sharp moves up.
Keep in mind that the New York Stock Exchange has threatened to delist TUP stock since the price fell below $1/share and the market cap fell below $50 million. TUP is expected to announce a plan for reversing course to the NYSE. This could potentially involve doing a reverse stock split to prop up the stock price. A reverse stock split is similar to having a single $10 bill instead of ten $1 bills.
In just 4 trading days this stock went from 61 cents a share to $2.13, before closing today at $1.90, up 42% for the day. Volume has skyrocketed along with the price which tells me this is being treated a lot like the meme stocks were a few years ago.
The company is still losing money and this is definitely speculative in nature. I'd be terrified to short this stock and bet on it going down right now. even though I am normally comfortable betting on stocks going down (see my recent comments on UPS, for instance). As a result, I decided to buy some stock. I am prepared to double down on a decent pullback if need be.
FYI- Competitor Newell Brands (Ticker: NWL) owns Rubbermaid.
Good luck to all.
You might want to consider Tupperware (Ticker: TUP). Right now it reminds me of the meme stock craze a couple years ago (AMC, BBBY, CVNA, GME, etc.). Look back and you will see those stocks went absolutely wild, but came down hard after sharp moves up.
Keep in mind that the New York Stock Exchange has threatened to delist TUP stock since the price fell below $1/share and the market cap fell below $50 million. TUP is expected to announce a plan for reversing course to the NYSE. This could potentially involve doing a reverse stock split to prop up the stock price. A reverse stock split is similar to having a single $10 bill instead of ten $1 bills.
In just 4 trading days this stock went from 61 cents a share to $2.13, before closing today at $1.90, up 42% for the day. Volume has skyrocketed along with the price which tells me this is being treated a lot like the meme stocks were a few years ago.
The company is still losing money and this is definitely speculative in nature. I'd be terrified to short this stock and bet on it going down right now. even though I am normally comfortable betting on stocks going down (see my recent comments on UPS, for instance). As a result, I decided to buy some stock. I am prepared to double down on a decent pullback if need be.
FYI- Competitor Newell Brands (Ticker: NWL) owns Rubbermaid.
Good luck to all.
