How To Trade It: Hershey Co Nears Buyout Rumor Levels
Jenny Rebekka | Mar 02, 2017 11:57AM ET
Shares of Hershey Company (NYSE:HSY)) were trading at $112 back in August 2016 based on a rumored buyout. On August 30th, 2016 the rumor was dispelled and the stock came crashing in, trading as low as $94 in the following days.
Steadily, Hershey Co has moved higher as the stock market as jumped higher. The chocolate and candy maker is now trading nearly back at the buyout rumor price. The level of $112 will be a significant resistance level and many investors will sell heavily into it. Investors should be cautious. Aggressive investors can look to sell the stock short at $112.00.
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