Supply & Demand: Basic economics dictate price. High demand with low supply pushes prices up, conversely high supply and low demand pushes prices down.

Overall Market Sentiment: Investor confidence in the broader market (DAX, European markets) affects individual stocks like HAY.MU. A bullish market helps, a bearish one hurts.

Company Performance: HAY.MU's financial results (revenue, profit, growth) directly impact investor perception and therefore the stock price. Strong performance boosts price.

Industry Trends: The health and outlook of the packaging industry, and specifically HAY.MU's specific niche within that industry, play a crucial role. Positive trends lift the stock.

Economic Conditions: Macroeconomic factors like inflation, interest rates, and GDP growth can influence investor sentiment and business prospects, impacting HAY.MU's stock price.

Competitor Activity: Actions of HAY.MU's competitors (mergers, new products, price changes) affect its market share and profitability, influencing its stock value.

Regulatory Environment: Changes in regulations (environmental, trade) concerning the packaging industry impact HAY.MU's operations and financial performance, affecting the stock price.

Currency Exchange Rates: As a German company doing business internationally, fluctuations in currency exchange rates (especially EUR/USD) can impact HAY.MU's earnings and therefore its stock price.

Investor News and Sentiment: Media coverage, analyst ratings, and general investor sentiment towards HAY.MU affect buying and selling pressure, driving price changes.

Dividend Policy: HAY.MU's dividend payouts can attract or deter investors, influencing stock price. A higher dividend yield makes the stock more attractive.