Clearly you are correct in your example. Who could possibly lose...

Clearly you are correct in your example. Who could possibly lose money in the stock market from a company that has lost millions?

Except that in the example presented, TUP, the share price did not continue up. People selling as the share price goes up make money, people who buy at the top lose money if they sell on the way down. If a company lists at $1, and the price drops to $0.50.
The company listed around 78c, continued along, raised some capital, then went up in price. Some people made a lot of money, offloading stock in an unprofitable company to others. As the price then declined to represent a more accurate valuation of the loss making company, others sold into the loss. Anyone who HELD the shares throughout this, is looking at a big red as the shares are at 42c, and the market cap substantially lower than listing.

Now of course this share stock could increase in the short term, we see ridiculous things all the time, such as PSY. However looking at the facts, this company is literally losing shareholder money. It has accumulated losses of AUD $9M, losing 15M since september 2013. It has only 200k of income, and a bit of cash to keep them going a while, absorbing the losses.

This company is valued at $264M. A company is only worth its expected future cash flows to an investor in real terms. A 5% return requires a price to earnings ratio of 20 as a base line. for this to be the case, this company, losing 7 times its earnings, needs to start making 13.2M per annum to give holders a 5% return.

So by my rudimentary estimations, this company has currently lost its shareholders a minimum of 15M before dilution. The current value of their future cash flows are negative. They show no prospects of improving. If they don't improve, they will either need to take out debt or raise more capital, losing shareholders more.

I never said it was implicit that a seller loses on a trade. But if the value of a company decreases without a share buy back, and based on a reasonable valuation, then the net effect on the market is people losing money.