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Why Mattel Stock Plunged on Thursday

    Leading toy makers Mattel (NASDAQ: MAT) and Hasbro just reported their third-quarter financial results. Mattel benefited enormously from the release of Barbie in July, as sales jumped 9% year over year (7% excluding currency changes). Broader demand across the toy industry remains weak, and this weighed on both stocks, with Mattel shares down 8% as of 12:33 p.m. ET on Thursday.

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