A holding company whose subsidiaries provide financial guarantee products and other financial services to clients in both the public and private sectors around the world.
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Swing trade on the upside? I've bashed Ambac several times in the CAPs world. Their pattern of a stampede starting on their share price on little news demonstrates the daytrading, wanna make up lost ground, speculative nature of today's investors. It's pretty much impossible to value a financial service like Ambac, it's investments may be zero'd down, but even if not, liquidity remains in doubt. Most end up forced into a heavy dilution to get sufficient funds to operate. How many shares you can sell in an equity raise at $0.60 each and the limited ability the funds can help een after raising the share count to astronomical levels is clearly limited.
Still several other financials have demostrated an ability to rise back up, some much stronger after a visit to BK, but this type of speculation is generally not healthy for an investor's portfolio. Ambac sits with negative $2 Billion in net tangible assets and minimal cash. From $88 per share in 2007 to $0.60, many speculative investors are in denial, but this is clearly nothing more than a high risk, high stakes, crap shoot. Another "hot hand" is not impossible given some limited news of stability, or other rumors that push volumes high enough to trigger screens investors use and then a jump in for the ride on no news. Overall, not a sound investment, but at $0.60, a possibly interesting short term CAPs swing trade.