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Why Did Ambac Financial Plunge 24%?
Generated by AI AgentAinvest Movers Radar
Wednesday, Apr 9, 2025 6:48 am ET1min read
On April 9, 2025,
experienced a significant drop of 10.47% in pre-market trading, sparking concerns among investors about the company's recent performance and future prospects.Institutional investors are considering severe measures following
, Inc.'s latest 24% drop, which adds to its year-to-date losses. This significant decline has raised alarms among investors, who are now evaluating their positions in the company.Ambac Financial has provided an update on the sale of its legacy financial
business. The company has met all necessary pre-closing conditions under the purchase agreement for the sale of Ambac Assurance Corporation and Ambac UK to funds managed by Oaktree Capital Management. The final outstanding regulatory approval is expected to be received in the second quarter, extending the term of the purchase agreement from April 4, 2025, to July 3, 2025. Ambac is prepared to close the sale as soon as possible upon receipt of the final regulatory approval.
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