Hershey's opened slightly higher Wednesday after the stock was pummeled Tuesday, dropping nearly 11 percent by the market's close after international confectionery manufacturer Mondelez said talks of a takeover bid of Hershey's had ended.
But Eddy Elfenbein, editor of the Crossing Wall Street blog, said Tuesday on " Trading Nation " that he's bullish on the company he said has a historically strong record. Hershey's stock has risen over 12, percent since its initial public offering in , eclipsing the return of the. But following Tuesday's fall, some may believe the company's historical growth is not a good enough reason to buy it in the here and now. It's a bit sloppy; I think it's going to probably knock around here over the next few months, so I guess from a trading perspective, I'd say that there are better opportunities elsewhere right here," he said.
Wald called the stock "too late to sell" after the decline, though he would not call Hershey's trend entirely "broken" after Tuesday's movement. I think it's raised its dividend every year over the last 30 or 40 years but one. This is as good as they get," he said. This profile is based on publicly available information and is intended to be informative in nature.
Some data provided by Crunchbase. Request Access. View More Companies. About The Hershey Company Stock The Hershey Company is a global confectionery that provides chocolates, sweets, mints, and other snacks around the world. It is focused on growing its presence in key international markets while continuing to build its competitive advantage in North America. Additionally, it is poised to expand its portfolio into categories beyond confectionery.
The Hershey Company was founded in and is based in Hershey, Pennsylvania. How to hire for potential: Why transferable skills outrank experience Fast Company - Dec, 12
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