Why Ally Financial Stock Dropped 10.2% This Week
Ally Financial (NYSE: ALLY) saw its stock price fall 10.2% this week on third-quarter earnings that did not meet analysts' expectations. The stock price stood at $29.25 per share at the market close last Friday and dropped to $26.26 as of the closing bell on Thursday. Ally is down roughly 45% year to date.
The major indexes were all up this week, with the S&P 500 and the Dow Jones Industrial Average gaining approximately 2.2% through Thursday's close, while the Nasdaq was up 3.2%. This does not include Friday, when the markets were up significantly across the board.
Ally Financial, a leading online bank that specializes in car loans, endured a difficult third quarter, as it missed revenue and earnings estimates.
Source Fool.com
