The Hershey Company drawdown: 37.3% below the all-time high
The Hershey Company is 37.3% below its all-time high, set May 1, 2023 (as of market close, Sep 11, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −37.3%
- 62.7% of ATH
- All-time high
- $276.35
- May 1, 2023
- Time below the high
- 3.4 yrs
- since May 1, 2023
- Worst-ever drawdown
- −53.9%
- Mar 10, 2009
- Longest underwater
- 6.9 yrs
- between all-time highs
- Today's level first reached
- May 21, 2021
- 5.3 yrs ago
- Last time this deep
- Mar 11, 2010
- in a previous episode
% of all-time high since 1980#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| May 16, 2005 | Mar 10, 2009 | −53.9% | 3.8 yrs | Apr 27, 2012 | 6.9 yrs |
| Apr 9, 1998 | Jan 28, 2000 | −50.4% | 1.8 yrs | Jul 25, 2002 | 4.3 yrs |
| May 1, 2023 | Feb 4, 2025 | −47.6% | 1.8 yrs | not yet | 3.4 yrs+ |
| Oct 7, 1987 | Oct 19, 1987 | −40.5% | 12 days | Nov 17, 1989 | 2.1 yrs |
| Sep 4, 2019 | Mar 23, 2020 | −31.0% | 7 mo | Apr 20, 2021 | 1.6 yrs |
| Aug 22, 1986 | Oct 22, 1986 | −28.6% | 2 mo | Aug 13, 1987 | 12 mo |
| Mar 8, 1993 | Jul 13, 1994 | −26.3% | 16 mo | Jul 20, 1995 | 2.4 yrs |
| Jan 22, 2015 | Jan 15, 2016 | −24.8% | 12 mo | Jun 30, 2016 | 17 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1980: how far The Hershey Company stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is The Hershey Company from its all-time high?
- The Hershey Company is currently 37.3% below its all-time high, set May 1, 2023 (as of market close, Sep 11, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest The Hershey Company drawdown ever?
- The deepest decline on record in our data (since 1980) took The Hershey Company 53.9% below its prior high, bottoming Mar 10, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from HSY; no free deep history exists for The Hershey Company — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.