What happened to Ambac today? Anyone know?

Ambac was up 40%+ on huge volume today:



Admittedly it's just a penny-stock and volume represents a meagre $50 million but still...Huge move with no news. MBIA was up a bit too. Mortgage insurers (PMI, RDN, etc) had been rallying big time for the last few days as well... could be short-covering but hard to say.

Comments

Popular Posts

Warren Buffett's Evolution and his Three Investment Styles

Ten classic investing myths from Peter Lynch

Charlie Munger: Stock market as a pari-mutuel betting system