The Morning Report
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Things have been looking better on the stock market for Accredited Home Lenders, the San Diego-based mortgage lender specializing in loans to consumers with poor credit.
Accredited’s stock price closed at $9.43 Thursday, up almost 60 percent from the day before, according to MarketWatch.
Tuesday, the lender’s stock took a sharp dive to close at $3.97, a 52-week low, after executives announced that the lender would have to layoff employees and may need to raise more money to cover potentially bad loans. The stock is still down more than 66 percent over the last month, with investors concerned about the health of those poor-credit loan makers, also called subprime mortgage lenders.