Top 3 Struggling Stocks to Avoid as Cocoa Prices Soar
HSYHershey(HSY) InvestorPlace·2024-02-20 20:36

Cocoa prices just hit a record high of nearly $5,800 per ton. All thanks to supply concerns, and an outbreak of cacao swollen shoot virus, which can decrease cacao yield, and has already compromised a good chunk of supply. Ghana and Nigeria are seeing dry weather conditions, which threatens soil moisture levels, and production yield. This backdrop has led to this list of stocks to avoid. “Cocoa futures have skyrocketed, doubling in the past year and surging 40% since January; sugar, labor, and other factors ...