Ambac Shares Find Footing After Plunge

Updated to add closing share price.

(NEW YORK) TheStreet -- Ambac Financial Group (ABK Quote) shares stabilized Wednesday after the stock endured a round of frenzied selling in the previous session as the media and investors alike sought to make sense of significant changes in the language of the company's most recent regulatory filing.

The stock closed at 80 cents, up a penny, although it dipped as low as 64 cents in morning action, a depth unseen since mid-March. Volume of 56.8 million was more than double the issue's three-month daily average of 23 million. ...