Yesterday, Ambac shares went up 34%, and shares of MBIA went up 40%.
So let's see if I understand the sequence of events here...
1) Wall Street analysts rate Ambac and MBIA buys
2) Ambac and MBIA lose over half their value
3) Wall Street analysts downgrade Ambac and MBIA to holds
4) Ambac and MBIA shares skyrocket
Brilliant!
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