Ambak Financial Surging (ABK)

Penny stock Ambac Financial ABK is surging today on rumors the company has a plan to avoid bankruptcy. Apparently the Chairman said at the shareholder meeting that the company has alternatives to bankruptcy. This news sent the stock up some 45 percent to 93 cents from 64 cents. The stock has pulled back to around 83 cents with 45 minutes left in the trading day. Shares of Ambac have been on a roller coaster in 2010. Back in early April the stock surged from 50 cents to over $3.00 before finally fading back below $1.00 in May. This stock is not for the faint of heart, but is a joy for speculators and day traders.