Shares of Tupperware jumped more than 25% in Tuesday trading, continuing a meteoric rally that has more than quadrupled the value of the stock since the start of July.
The gains are reminiscent of the meme-stock mania that swept markets in recent years, when a speculative frenzy sent shares of struggling mall retailers spiraling. Tupperware’s stock, worth less than $1 in early July, recently traded above $5.
Options activity has surged, as has retail trading in the shares. Some of the most actively-traded options bets yesterday were those pegged to the shares jumping to $5 or $7.50, Cboe Global Markets data show. Retail buying in the shares jumped to a record, according to Vanda Research.