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.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HSY:
- Hershey price target lowered to $165 from $179 at Piper Sandler
- GE Aerospace, GM report quarterly earnings beats: Morning Buzz
- Walmart initiated, Uber upgraded: Wall Street’s top analyst calls
- Hershey initiated with a Sell at Redburn Atlantic
- Hershey signs five-year agreement with nine cocoa-producing cooperatives