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Tupperware, Rite Aid, Yellow: Meme Stocks Are Having a Moment
Tupperware shares jumped above $5 this week. (Scott Olson/Getty Images)
Shares of Tupperware, Rite Aid and trucking giant Yellow have been on a wild ride.
The eye-popping swings in recent days are reminiscent of the meme-stock craze during the pandemic that turned GameStop into an unlikely stock-market star. How it works: Traders rush into shares and options of distressed companies and stoke huge jumps with bets that they’ll defy the odds and cash in big.
The bets are often bold: Some of the most widely-traded options tied to Tupperware this week were for the shares jumping to $6 or $7.50.
General Motors spent $21 billion on stock buybacks during the last 12 years. It should give more money to assembly-line workers, instead.That’s the logic...
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