Why a Piece of Chocolate Costs More Than a Porsche Taycan

If you were thinking of companies that might want to increase the value of their shares by buying back stock, Lindt & Sprungli AG would likely come near the bottom of the list. Primary shares in the Swiss chocolate-maker closed at 81,600 Swiss francs ($87,650) a piece March 1, 2021. That’s roughly enough money to buy a brand-new electric Porsche Taycan, or a five-bedroom house with a vineyard in Portugal. The next day, Lindt announced plans to buy back 750 million Swiss francs of equity, edging the shares closer to the record 93,800 franc level they peaked at last February.