Ok so mine arrived - seller did change to small based on my message to them. Quality is good and I like everything about it except the fit. As was the case for you, it is snug on me to the point where I don't want to wear it. It is leaving a mark after a while and I keep feeling it on my wrist. So complete waste of money as medium wouldn't have worked. Doesn't seem like it will loosen over time either.
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It will not stretch over time. I hung mine from a 7lb weight for two weeks and it did not affect the size. Bummer