Fossil Group Inc FOSL shares are trading lower by $11.27 (28 percent) at $28.83 in Wednesday's session. The catalyst for the rout is Q1 EPS miss of $0.03 along with a slight revenue miss.
Investors that didn't exit ahead of the report are abandoning the issue in today's session. Some may be fearing the Apple Watch and Fitbit brand will continue to take away from their market share.
After a much lower open, it immediately bottomed at $26.51 and rebounded to $29.69 before falling back under $29.
The issue is now trading at it lowest level since November 2009, when it bottomed at $26.14.
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