Why MBIA Stock Dropped 14.5% This Week

MBIA (NYSE: MBI) saw its share price plummet 14.5% this week through Sept. 22, according to data provided by S&P Global Market Intelligence. It closed on Thursday at $9.75 and was trending lower in early trading on Friday. Year to date, the stock price is down about 40%.

Overall, it was a negative week as the S&P 500 fell 2.9% through Thursday.  

MBIA provides insurance for bonds, primarily municipal, as well as fixed-income investment management. It is one of the leading bond insurers in the United States.  

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Source Fool.com