American Mortgage (AHM) is down 45% in the pre-market to $5.75. The stock has a 52-week high of $36.40.
And, things could get worse. According to The Associated Press "The company said some of its financial backers are worried that the mortgages acting as collateral for their loans have lost too much value, and have demanded their money back."
The company also says that it is facing margin calls on its portfolio and has suspended its dividend.
Preferred shareholders and firms who are trying to collect on margin debt could liquidate the company if things get worse.
This dog could go to zero.
Douglas A. McIntyre
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
