Their stock fell $2.13 to $5.51 in afternoon trading after sinking to a 52-week low of $5.05.
In a statement earlier in the day, the company said there was "no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company."
The rumor of Countrywide filing BK has been around for 6 months and to see their stocks fall from $45 to $5 is unbelievable. How long do you think they can keep this up?
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