Why Shares of Ally Financial Are Plunging This Week
Ally(ALLY) The Motley Fool·2024-09-13 02:00
Management provided an update at an industry conference this week that spooked the market.What happenedShares of the large auto lender Ally Financial (ALLY 0.74%) have fallen 16.5% this week as of 1:38 p.m. ET, according to data from S&P Global Market Intelligence. The move came after management presented at an industry conference earlier in the week and expressed concern over the company's near-term credit profile.So whatManagement said that losses in its retail auto portfolio are trending higher than expe ...