More proof that the i word can do wonders for any stock price. Tupperware Corp shares soared 23% after the company said it would start selling its plastic food containers over the internet. Over the last two years, Tupperware stock has dropped 72% and US sales have dropped by 20%. The company traditionally sells its wares through Tupperware parties, but says the new initiative is aimed at those who aren’t interested in attending them – that must be just about everybody then. Tupperware also said it would open 50 stores and install shopping mall kiosks. Shares in the Orlando, Florida-based company ended the day at $19.62 up 3.62 from yesterday’s $15.44, even though it posted fourth quarter profits down 25% from the previous year. But remember the example of tired entertainment and consumer products retailer and direct marketer K-Tel International Inc, whose stock rose by as much as 160% up to $17.875 on talk of the company instigating online sales over the internet in November. A few weeks later it was negotiating hard to keep its Nasdaq listing by demonstrating the ability to maintain net tangible assets of at least $4m (CI No 3,561). The share price is back down to a more typical level at $11.50.
