Why Tupperware Stock Is Tumbling Today
Shares of Tupperware Brands (NYSE: TUP) were tumbling 12% in morning trading Monday on no specific news, but it follows a huge run-up last week on earnings and an even larger gain for the year. Tupperware said it has over $501 million in senior notes that are due in June 2021, and management determined that "raises substantial doubt about the Company's ability to continue as a going concern." Late Friday night, a law firm -- where one of the partners is the former attorney general of Louisiana -- announced it was investigating disclosures Tupperware made back in March disclosing potential fraud in its operations, which opened it to a class action lawsuit.
