High levels of banned PFAS detected in Hershey packaging, short-seller claims

In a report published earlier, Grizzly Research said it had commissioned the mass testing of the packaging of about 40 different food products for U.S. consumer retail and claimed that its testing found high levels of banned PFAS, or “forever chemicals,” detected in Hershey’s (HSY) packaging. “We believe Hershey’s, Reese’s and other HSY brands have severe PFAS contamination that the direct competition can avoid. This can materially affect these brands’ recognition and add material reputational and litigation risk to HSY,” the short selling firm stated. In afternoon trading, Hersey shares are down fractionally, outperforming the broader market.