Tupperware and Yellow: Joining the Meme-Stock Club with a Rally
Shares of struggling companies Tupperware Brands Corp and Yellow Corp have experienced significant rallies as retail traders flock to financially weak "meme stocks." Yellow's shares surged over 67% after the trucking company announced bankruptcy, while Tupperware's shares rose 29% amid warnings of possible bankruptcy and a slump in sales. The resurgence in meme stocks, driven by social media hype, coincides with a broader rise in U.S. stocks on expectations of interest rate stabilization and economic recovery. Retail traders' market orders have increased, with Tupperware and Yellow being among the most traded stocks.