Capital One Shares Fall on Analyst Note

In the face of potential competition, shares of Capital One Financial Corp stumbled a little. An analyst was quoted as saying that AmeriCredit Corp. appears on the verge of expanding its auto lending operations, setting off Capital One’s not so great Wednesday. The story has been covered by the Associated Press.

Capital One’s stock fell 1.6 per cent, from $85.82 to $84.42 – at one point falling as low as $83.91.

According to Raymond James analyst Michael T. Vinciquerra said Wednesday, “It appears as if AmeriCredit intends to become a more full-credit spectrum lender, possibly providing a little more direct competition for Capital One. The company plans to dramatically expand its dealer network, particularly with the non-franchised players."

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