5 Stocks Getting Hammered on Friday

4. Ambac Financial Group, Inc. (NYSE:AMBC) has recorded a sharp decline of 22% as of 12:23 PM ET. The New York-based specialty insurance company revealed that a recent court ruling related to the breach of a contract case in connection to its insured residential mortgage-backed securities (RMBS) transactions against Ambac Assurance Corp could significantly impact the organization. Of the 924 hedge funds in Insider Monkey’s database, 16 reported owning a stake in Ambac Financial Group, Inc. (NYSE:AMBC) as of Q4 2021.