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.
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