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2025-10-16 18:47:21
[Fossil's stock price plummeted 35%, and its debt crisis triggered market panic] ⑴ Watchmaker Fossil's stock price plummeted about 35% to $2.43 in pre-market trading, marking the largest single-day drop in recent times. ⑵ The company once again extended the exchange offer period for its $150 million senior notes due in 2026 from October 15 to October 22. ⑶ This is the second time the company has extended the exchange offer, and as of now, 75.4% of the total notes have been exchanged. ⑷ The company explicitly denied media reports that its Indian subsidiary may go public, stating that it is not currently seeking any issuance plans. ⑸ Despite this plunge, the stock's cumulative increase this year as of yesterday's close is still nearly doubled, reflecting that previous over-optimistic expectations are being corrected.
