COVID-19 lockdown had a positive effect on Tupperware’s sales meaning that food keeping products may not have falling demand because people need them all the time. NYSE: TUP fell in March due to declining trust from investors in major stocks. However, its sales were on the right track to keep Tupperware’s earnings above zero.
Rising above 50% after announcing Q2 results is a significant move for penny TUP during uncertain times for investors who doubt in investing. 25 million shares of daily volume arose out of demand from buying traders.
The stock may rise higher as sales are to rise during summer because outdoor activities require food and drink keeping items. As a result, earnings could turn to millions for Q3.