Lindt & Spruengli AG Reports Decline in Stock Price Due to Cocoa Market Volatility
Lindt & Spruengli AG, a Swiss chocolate manufacturer, has experienced a decline in its stock price due to concerns about chocolate demand and the overall decline in the Swiss market. The company’s stock price has been affected by the sharp fall in cocoa prices, with September ICE NY cocoa closing at 3.74% lower and September ICE London cocoa #7 closing at 2.23% lower.
The decline in the company’s stock price is reflected in the overall performance of the Swiss market, with the SMI index ending down 0.75% on Friday. However, the company’s high-quality products have been in demand, with expensive chocolate contributing to the company’s revenue.
Key Statistics:
- 52-week high: CHF 134,800
- 52-week low: CHF 97,000
- Market capitalization: approximately CHF 17.8 billion
The company’s stock price has been volatile, with fluctuations in the market affecting its value. Despite the decline in the company’s stock price, Lindt & Spruengli AG remains a significant player in the chocolate industry.