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Is It Safe? Ambac Relaunch May Misfire

Stock quotes in this article: ABK , MBI , JPM , BRK.A  

"Is It Safe?" is a daily feature by TheStreet.com Ratings that looks at a company's risk-and-reward potential. Find out if your stocks are safe each morning at 4.

Ambac(ABK Quote), the second-largest U.S. bond insurer, posted a $392 million loss in the first quarter after a $1.7 billion loss in 2008.

The New York-based company's stock tumbled to 38 cents in March from a high of $96 in May 2007. Short interest, representing those betting on a further decline, stands at 14.9% of the outstanding shares.

The word "perilous" comes to mind. ...

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