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How Is Ally Financial Holding Up, Given the Current State of the Banking Industry?

How Is Ally Financial Holding Up, Given the Current State of the Banking Industry?

Since the collapse of SVB Financial and Signature Bank, a lot of bank stocks have been sold off significantly. One of those is the large digital consumer bank and auto lender Ally Financial (NYSE: ALLY), which is down about 18% since SVB started struggling earlier this month. Investors have had their doubts about Ally for many months now, as the company's large retail auto-lending portfolio looms large heading into what could be a much tougher economy for consumers.