Tupperware Brands Corp
What To Know: The extraordinary retail-driven short squeeze in Tupperware shares can be traced back to a surge in AMC Entertainment
The stock is trending across various social platforms as traders highlight high short interest in the name. More than 27% of the float is currently sold short, per data from Benzinga Pro. Tupperware was among the top stocks to watch on Benzinga's short squeeze watchlist this week.
On CNBC's "Squawk Box" Tuesday morning, tech reporter Kate Rooney reported that short sellers are down approximately 348% over the last month alone, and more than 170% since the start of the year. CNBC also noted that borrowing rates for short sellers are up to 34% for existing shorts and 140% for new stock.
Tupperware is expected to report second-quarter earnings in approximately two weeks, although a date has not been confirmed by the company.
TUP Price Action: Tupperware shares closed Monday up nearly 40%, locking in gains of more than 425% in July, according to Benzinga Pro. The stock was up another 28.3% to kick off August as of the time of writing.