NasdaqGS:CACCConsumer Finance
Credit Acceptance (CACC) Stock Shrugs Off Profit Surge As Credit Questions Linger
Credit Acceptance stock barely budged after earnings, up less than 1% to about US$592, even though the quarter landed with a much louder thud on the income statement. Investors came in after a soft 30 day stretch, with the stock down about 10%, and were met by a Q2 headline of roughly US$135.9m in net income and basic earnings per share of about US$12.97.
The real story is not the share price reaction. It is the sharp year on year jump in profitability and what that says about credit costs...