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Why Credit Acceptance Stock Fell 17.9% This Week

TheMotleyFool

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Why Credit Acceptance Stock Fell 17.9% This Week: https://g.foolcdn.com/editorial/images/715604/a-person-at-their-desk-looking-at-data.jpg

Credit Acceptance (NASDAQ: CACC) had a rough week, as its stock price fell 17.9% from last Friday's close through 12:30 p.m. ET on Friday, according to S&P Global Market Intelligence. The stock is trading at about $390 per share and is down about 39% over the past year, as of Jan. 6.

Overall, it was a flat week for the markets, as the S&P 500 was up 1%, the Dow Jones Industrial Average also gained 1%, and the Nasdaq Composite was up 0.2% for the week, as of 12:30 p.m. ET.

Credit Acceptance got hit with a lawsuit by the New York Attorney General's Office and the Consumer Financial Protection Bureau (CFPB), causing its stock price to spiral lower.

Source Fool.com

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