Ally Financial Is Down 43% In 2022. Time to Buy the Dip?
Ally Financial (NYSE: ALLY) is getting hit hard by worsening credit conditions in the automotive market and rising interest rates. At Wednesday's closing price, the auto lender's stock was down 43% this year, more than double the nearly 20% drop for the S&P 500.
Yet even with the short-term earnings pressure, now could be a great time to scoop up some shares of Ally Financial if you have a multiyear time horizon. Here's why.
Source Fool.com
