Why Did Fossil Group, Inc. Stock Jump Friday?
Shares of watch company Fossil (NASDAQ: FOSL) increased as much as 13.6% on Friday. The stock is up 13.2% at the time of this writing. The stock's rise comes after shares fell on Wednesday in the aftermath of the company's third-quarter earnings release.
While it's not clear why Fossil stock is rising on Friday, there are several plausible theories. First, some investors may view the sell-off as a buying opportunity, helping the stock rebound. Second, and this could represent a large number of investors who were shorting the stock now covering their position, creating a short squeeze.
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Source: Fool.com
