Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of small-cap savings and loan company Flagstar Bancorp (NYSE: FBC) sank 12% in early Wednesday trading on above-average volume.

So what: I couldn't pinpoint any specific news regarding the company today, but the shares are nonetheless flirting with new 52-week lows. Of course, when you consider the stock's high beta, high short ratio, and $1-ish stock price, wild price swings shouldn't come as a huge surprise to Flagstar followers. 

Now what: Today's selloff might be an opportunity for less risk-averse investors. Fool contributor Zeeshan Siddique recently noted that although it's still in the red, Flagstar is at least showing signs of strength. Flagstar is still too volatile for most Fools, but given its recent operating and balance sheet improvement, the stock might be worth looking into for a small speculation.

Interested in more info on Flagstar? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.