Fleetwood Enterprises Inc. saw its stock price decline $2.47 a share, or 18.5%, today (Dec. 6) after the company announced the beginning of debt securities exchange offer.
Fleetwood stock closed today at $10.88. The volume was unusually high, a little more than 4 million Fleetwood shares changed hands.
The exchange involves existing Fleetwood convertible trust preferred securities and the company is offering new convertible trust preferred securities for cash.
The deadline for accepting the exchange offer is Jan. 4.
Meanwhile, Rexhall, Thor and Winnebago stocks all reached new 52-week highs today.
Rexhall climbed to $7.44 a share before closing at $7.27, up 51 cents, or 7.5%.
Thor climbed to $40 before closing at $39.48, up 69 cents.
Winnebago rose to $36.70 before closing at $36.50, up $1.08.