ALLY priced its IPO below the expected range at $25. The shares never hit that price again on the open market, trending as low as $23.76 during their first day of trading. By 4 p.m. the stock finished at $23.98, down 4.08%. (ALLY recovered a few cents in after-market trading but is indicated at $23.80 pre-market today: Friday.)
Hm, more than two and a half years years of interest down the drain in just one day.
There is likely more bad news, and further share price declines to come. Stay away from ALLY unless it is as an FDIC-insured depositor.
