Last year, the stock market witnessed significant volatility due to record-high inflation, the Fed’s hawkish stance, geopolitical instability owing to the Russia-Ukraine war, and an economic slowdown. As a result, the broader S&P 500 index has declined more than 18% over the past year.
However, amid the market turmoil, consumer staples stocks, such as The Hershey Company (HSY), do well as they face relatively inelastic demand. Shares of HSY have gained 14.6% over the past year to close the last trading session at $223.27. The stock has gained 2.3% over the past six months.
