Ambac Financial To File For Bankruptcy This Week (ABK)
So sorry charlie, looks like the little one that could is going to finally pull the rip cord on BK sometime this week according to Bloomberg. Another bank bites the dust….
The company missed a coupon payment at the beginning of this month with a grace period of 30 days. The company need to restructure nearly 1 billion dollars in bonds and other claims.
ABK shares are stock is up 2% on the day though was up higher before the BK news hit. Looks like those rumor chases caught a bit of the buy the rumor sell the news tickets..
Maybe a few of the 1 dollar puts were not a bad idea on a few weeks ago, heck the .50 put strikes are not looking to bad haha. 50c put strikes that is wild for a NYSE stock!