Ally Financial Inc (ALLY.US) is an American financial services company with a market capitalization of $8.12 billion as of August 18, 2023. Formerly known as GMAC Inc, it provides a range of financial products and services, including automotive financing, insurance, banking, and online banking solutions.
Founded in 1919, it has a rich history as the financing arm of General Motors. Over the years, it expanded its offerings and customer base, becoming an independent company in 2006. In 2014, it officially rebranded as Ally Financial. The company went public in 2014, listing on the New York Stock Exchange under the ticker symbol ALLY.
Its dedication to innovation and customer service has positioned it as a significant player in the financial sector, serving customers across various industries.
Within the past 5 years, Ally Financial Inc (ALLY.US) has had its fair share of ups and downs. The company experienced a significant drop in share price during the COVID-19 pandemic, with the lowest stock price reaching $10.22 in March 2020. However, the company bounced back, with the highest stock price reaching $56.61 in June 2021.
Traders may consider using various trading strategies when analysing the stock. For example, day traders could take advantage of the stock's intraday volatility by holding positions for a short period of time while swing traders could use chart patterns to identify market trends and hold positions for a few days to a few weeks.
When it comes to tools and indicators, traders may use a variety of them to analyse the stock. Line charts for instance provide a simple and effective way to track price movements over time. Other indicators include moving averages, MACD, bulls and bears power indicators, etc.
Considering trading Ally Financial Inc. stock? It's always a good idea to check out the competition before taking the plunge. So who are its competitors?
- JPMorgan Chase (JPM.US) is a leading American multinational investment bank and financial services company. With a global presence, JPMorgan Chase offers a range of services including banking, asset management, investment banking, and consumer and commercial banking.
- Bank of America (BAC.US) is one of the largest financial institutions in the United States. It provides a wide array of banking and financial services, including consumer banking, commercial banking, investment banking, and wealth management. With roots tracing back to 1904, Bank of America has grown through mergers and acquisitions, becoming a prominent player in the financial industry.
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The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
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