Shares of Tupperware Brands Corp. TUP, -31.78% tumbled 18.8% in morning trading Wednesday, which puts them on track to snap a five-day win streak, and to suffer the biggest one-day drop since it sank 27.5% on May 8.
The food-storage container company’s “meme”-like stock, which closed Tuesday at the highest price since Nov. 15, 2022, had rocketed 304.5% over the previous five-sessions, and skyrocketed 767.7%. amid a 10-session stretch through Tuesday in which it had gained nine times. The stock has run up 273.5% over the past three months, but was still down 39.3% over the past 12 months, while the S&P 500 SPX, -1.38% has gained 10.8% over the past year.