Tupperware Brands Corporation TUP shares are blasting higher Wednesday. The stock is up more than 65% since Monday.
What To Know:
According to an SEC filing, Tupperware Brands Corporation made amendments to its existing credit agreement on Oct. 5. The change, known as the Fifth Amendment, extended the deadline for delivering financial statements and the Turnaround Plan, and it allowed the company's subsidiaries to hold a higher amount of cash.
Additionally, it modified the deadline for a mandatory prepayment of term loans with an expected Indonesian Tax Refund. The full details of this Amendment can be found in Exhibit 10.1 of the associated Form 8-K.
Shares of TUP are moving higher on heavy trading volume Wednesday. According to data from Benzinga Pro, more than 29.3 million shares have already been traded in the session, exceeding the stock's 100-day average of 21.978 million shares.
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TUP Price Action: According to Benzinga Pro, Tupperware Brands shares are up nearly 44% at $2.16 at the time of publication.
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