Shares of Hershey Inc. have reversed an earlier loss to be up 0.4% in afternoon trading, which puts them on track to snap the longest losing streak in 25...
Shares of Hershey Inc. HSY, +0.47% have reversed an earlier loss to be up 0.4% in afternoon trading, which puts them on track to snap the longest losing streak in 25 years. The chocolate seller’s stock had been down 1.3% at the intraday low of $194.64, which was hit at about 11 a.m. Eastern before launching its come back. The stock had dropped 6.7% over the past nine sessions to close Tuesday at a 20-month low of $197.
The selloff comes amid fears of weak consumer spending, as interest rates push up borrowing costs and as student loan payments restart. The company is expected to report third-quarter results on or about Oct. 26, according to FactSet. If the stock pulls another U-turn in the final hour of the regular session and closes down, a 10-day losing streak would be the longest on record, based on available data going back to January 1972, according to Dow Jones Market Data. The stock has tumbled 21.
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