Why Shares of Ally Financial Are Plunging This Week

Shares of the large auto lender Ally Financial (NYSE: ALLY) 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.Management said that losses in its retail auto portfolio are trending higher than expected, as borrowers deal with a higher cost of living and rising unemployment. Management also said that delinquencies in July and August are up 20 basis points versus its expectations and that loan losses are set to expand in the coming months.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool