Back when he was a baseball star, former Phillie Lenny Dykstra famously admitted he'd lost tens of thousands of dollars betting on himself in high-stakes poker games. Now as a bettor, Dykstra has moved up to the big leagues. Dykstra, who operates a Southern California carwash chain under his name, also has been moonlighting over the past year as a daily stock options columnist for TheStreet.com.
And in Monday's column, Dykstra cheered the boardroom coup at Hershey last weekend, which resulted in a new board featuring former Pennsylvania Attorney General LeRoy Zimmerman, former Gov. Tom Ridge, former Philadelphia School Reform Commission head James Nevels and a group of prominent businessmen.
"This is great news for Hershey investors," Dykstra wrote. He didn't predict if the new board would decide to merge with CadburySchweppes, cut costs, or boost offerings of novelty Reese's Peanut Butter Cups. He did crow about having been bullish on Hershey contracts in a column last week. He predicted the stock would pop a bit Monday, which it did. He also called the coup "a sweet indication of things to come" and urged readers to "keep your eye on the ball!" Dykstra also noted that he has not put his own money into Hershey shares.
