(PNS reporting from WALL STREET) Summer has begun baking the country, and that means just one thing on Wall Street: A steep rise in the value of paleta stocks.
“We all look forward to a seasonal bump in the iced treats sector. This year, Navidad came early,” said Alexander Wiseman, a desserts and novelty/snack food analyst for investment bank Barney, Smith & Locke.
“The paletas de coco seem to be particularly big sellers thus far, but more conservative investors are sticking with the time-tested favorites, such as fresa and limón. Ah, nothing really cools you down like a lime paleta,” he told PNS.
While some analysts worry that paleta prices will hit an all-time high this summer and become out of reach for most investors, East Los Angeles paletero Moisés Barragán (photo) said he’s not overly concerned.
“I have every flavor, and the price is set at $1.25 for paletas de agua and $1.50 for paletas de leche. No more, no less,” he told PNS. “And if I run out, I can always go get more.”
Jim Winstead took the paletero photo.