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Posted on 31 March 2011 | 5,876 views

Hershey Chocolate Stock Price After 1929 Stock Crash

Hershey’s is one of the oldest chocolate companies and is the largest chocolate manufacturer in the United States, and an American icon for its chocolate bar. Its headquarters are in Hershey, Pennsylvania, which was founded by Milton S. Hershey in 1894 as the Hershey Chocolate Company.

In 1903, Hershey began construction of a chocolate plant in his hometown, Derry Church, Pennsylvania, which later came to be known as Hershey, Pennsylvania. The milk chocolate bars manufactured at this plant proved successful, and the company grew rapidly thereafter.

Right before the October 28, 1929 Black Monday and October 29, 1929 Black Tuesday stock market crash, Hershey stock had been trading at $130.00 per share on the New York Stock Exchange. Hershey stock closed on August 11, 1932 at $55.00 per share and hit a 1932 low of $43.50 per share.

Hershey developed a small flat-bottomed conical-shaped pieces of chocolate that he named “Hershey’s Kiss”. Initially they were individually wrapped by hand in squares of foil, and the introduction of machine wrapping in 1921 simplified the process while adding the small paper ribbon to the top of the package to indicate that it was a genuine Hershey product.

The “Hershey’s Kiss” went on to become one of the most successful and well-known products ever produced by the company.

Resources:

The Pittsburgh Press October 1929
The Pittsburgh Press August 1932

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