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Byline: KIRK SHINKLE
A recession-pinched holiday shopping season can be brutal on companies that make toys for a living.
Jakks Pacific Inc. recently found out. Though analysts consider the firm to be a small, nimble player against industry giants such as Hasbro Inc. and Mattel Inc., that didn't prevent a couple of them from downgrading its stock recently.
Banc of America Securities analyst William Gibson downgraded the stock on Dec. 6. Four days later, Morgan Keegan & Co. analyst Robert DeLean followed suit. Jakks' shares fell almost 30% over a two-day period on the news.
Even DeLean admits he was surprised by the plunge.
"We certainly did not expect the two-day …