Credit Acceptance Corporation (NASDAQ:CACC)
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- joelsg1: $CACC Closed Jan. $400 puts for 2.5x profit. News Day 2. May return after company buyback support ebbs.
- joelsg1: $CACC This criminal enterprise may finally be facing justice for defrauding poor used car buyers, sued by NY AG and Feds CFPB. It has been sued by a State or 2 before but this is big and potentially existential. Shorted before and burned with an involuntary cover as this is so thin, so this time bought $400 puts. E 1/30 and I defy anyone to understand their trick accounting which has kept this levitating for years.
- vcondry: @joelsg1 $CACC Im in the used car business and I have been wondering the same thing for years their default rate is around 90% they do all kinds of nasty tricks to their consumers...want to know who uses them ... anywhere you see the sign "GUARANTEED CREDIT APPROVAL" thats CACC financing. The dealers that lend through them typically have some shadiness as well.
- joelsg1: @vcondry $CACC They usually sell/repo/resell the same car multiple times in any year. Their overpriced cars have remote kill switches when people miss their excessive payments, making it easy to locate/repo. And yes, they do lend to the poorest who could not qualify for other credit, Guaranteed Credit, but that's their business plan which depends on defaults. Still, the stock is propped up by that accounting and shorts have been burned before, myself included.
- vcondry: @joelsg1 $CACC with the overall used car market facing another crap year I think your thesis should pay out but definitely wanna go the PUT route just so you know what your risk is capped at.
- lostsheep: #employment At current incomes from the rescue plan the average recipient receives approximately $22.5 an hour and I believe a lesser tax rate. A larger portion of higher earners have maintained employment. As the lower wage employees return to work I have to assume that there will be a lot less cash to be thrown into the system? Especially in sub prime markets. EX $CACC $OMF $RCII........
- Rick_O: @lostsheep $XRT $PRTY $ASO #Retail-Sales #TOS Yes, thanks for pointing out - Thanks @Champ! On the other side, $CACC announced tumble number of loans and some concern due to too high car price! I thought that's a interesting (concerning) shift.
- joelsg1: @Forexpro $KBE $MS $BAC $AMC $GME Thanks Pro, I know it’s a complex state of affairs, but interesting and potentially lucrative. I had one personal brush with the FTD Regs when my broker Schwab decided one day without notice to close by involuntarily covering my short position in $CACC, the only forced cover I could find in that security market wide. I complained vehemently and received a cash settlement, and now Am glad they covered me as the stock is higher, but still. Since it happened to me, figure it can and will happen to the $AMC shorts, though being on both sides of the trade delays the cover. Greatly appreciate your response and any supplemental thoughts. BTW, continuing props for deciphering the Arch Egos name pun, you were the only one I saw who got it right. Be well, and best right back to you.
- champ: @joelsg1 $KBE $MS $BAC $AMC $GME $CACC ---- I have been-there and also done-that. However..Counselor I heard your same case argument before, however again, Schwab can do that, ...because its their #call because of their #reason or reasons, on your a ...
- joelsg1: @champ $KBE $MS $BAC $AMC $GME $CACC #call #reason They paid me 15k, about half of my argued loss after an exchange of correspondence, explained in prior post as you note why I can never short again. The point is that there is discretion involved in covering FTD situations, which is fueling the $AMC situation, but at some point, 5 weeks in fact, time runs out. Can get clues from reported data when that period starts and restarts, then chart results, but theory is that there are a lot of unreported shorts out there. Time will tell if this is the lucrative opportunity the apes and I think it is.
- champ: @joelsg1 $KBE $MS $BAC $AMC $GME $CACC #call #reason --- #Nice...and Yes, time will tell, about any lucrative opportunities, LOL on that,.....however for me, I'm not following that situation, just too many other swing opportunities..going on daily, is what I'm focusing on.
- joelsg1: @ScottT $GME Not the ones I've participated in, e.g. $CACC.
- Motorman: @joelsg1 $GME $CACC Add $NIO to the list, 25 PT In Nov. Good buying opportunity.
- joelsg1: $CACC Covered what was left of my short position at 270. See my earlier posts for the Outrage of being involuntariy covered and the dangers of shorting thin stock.
- joelsg1: $CACC In 40+ years of trading, here's something I've never encountered. Had a short from a little above current price. This morning, watched in amazement as Schwab closed by buying 3/4 of my short shares due to "regulatory" action. Huh? Called and they said the firm they had borrowed the shares from had asked that their shares be returned, so they sold me and others out. I went over that manager's head, asking that they reverse trade. Anybody else ever experienced this involuntary cover?
- joelsg1: $CACC Heard back from Schwab on their involuntary cover of my short position, which should be an eye opener for all short sellers. They cited to me SEC Rule 15c3-3(d)(4) which they claim gives them 30 calendar days to essentially reborrow shorted stock which had been called away or else, if they can't, obligates them to buy to cover and thus close the short position but without notice to me. Sort of like an unmet margin call. Whoa! I seriously object, they as a fiduciary should absolutely have given me notice of that 30-day period so I could control the cover. Most people don't know about this rule, enacted in 2013. I am contesting the trade. But I'm done shorting anything given this.
- Mikev200: @joelsg1 $CACC wow, never heard of such..
- joelsg1: @Mikev200 $CACC Exactly, me neither.
- joelsg1: $CACC Shorting (again).
- zimzala:
- joelsg1: @zimzala $CACC Holding profitable short but since designated Hard to Borrow, cannot short more. No put volume, small float, so your trade might work as shorts cover, but not me. Don't stay too long though, as many other states will announce joining the MA Attorney General in suing these guys for fraud. Crazy expensive too, at 4 x book value of loan portfolio.
- joelsg1: @bRobert $w $OSTK in same circumstance, might just be getting started. Perfect exemplar of the trapped shorts syndrome, with which I've had mixed results, $CACC.
- joelsg1: $CACC Boom! Been shorting this excrement on/off/on for weeks.Much more downside ahead.
- joelsg1: $CACC Up big on short. Sold May 200 puts to hedge.
- joelsg1: $CACC From R1 to S1 in 90 minutes. I know Dan says don't short in this market but since $JPM down 3%, this one should circle the drain.
- shoredriver: @joelsg1 $CACC $JPM ....should and will are vastly different ......
- joelsg1: @shoredriver $CACC $JPM True, but made 70 bucks shorting 2 weeks ago, back at it yesterday for another 30.. They will have to file Covid risk disclosure in next 2 weeks, like $SC, amending 10K and that should/will pull the chair out from under $CACC.
- shoredriver: @joelsg1 $CACC $JPM $SC ....70 whole dollars on a 280 stock....there has GOT to be a better way....
- joelsg1: @shoredriver $CACC $JPM $SC Now 100 dollars net building to a 1k share day trade short, I'll take it but open to suggestions...
- joelsg1: $CACC Back shorting after big runup last week. Atrocious business model, their competitor $SC updated risk profile due to COVID Friday but not these guys. Andrew Left's Citron shorting publicly. Supposed "book" is $120.
- Bert953: @joelsg1 $CACC $SC Interesting.... I will sell to open April & May 300/310 calls in my PAPER account.
- joelsg1: @Bert953 $CACC $SC High conviction on short. These monsters make money by assuming ultra subprime used car loans and service contracts which noone will honor, then repo vehicles to sell again and garnishing wages of defaulters. Big problems from COVID. Nobody buying cars, new cheaper than used with 7 year financing at 0%, no wages to garnish with unemployment spike.
- joelsg1: $CACC Back in short at 274 , insiders selling, downgrades, Left's Citron shorting (see his report on Citron website. Been in and out of this one.
- joelsg1: $CACC Reloaded short at failed vwap (270) but keeping close tabs as this is very low volume/float stock.
- joelsg1: $CACC Back in short @ 240. Made 80 dollars short last week, reloading after bounce today. Downgraded today by BTIG
- SHUDAG: @joelsg1 $CACC well that one was a beauty
- joelsg1: @SHUDAG $CACC A bit early on everything green day, but low volume/float , still up 70 overall on trade
- joelsg1: $CACC Stopped out of short, wrong day for that! But will revisit later
- lostsheep: @Sluggo $LKQ This is a huge supplier of parts engines, trans etc.. for lower end retailers to recon older and higher mileage cars. Lots of subprime lending $OMF, $CACC etc... going on in affordable high mileage cars that need these parts. Big market. Still concerns me to see all these bottom end dwellers turning up. Typically a sign of things to come.
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Ajax4Hire: ...
$ABT $ABUS $ACIA $ADRO $AEM $AFL $AGCO $AGX $AIG $ALGN $ALKS $ALL $AMP $AMT $ANAB $ANF $ANTM $AOBC $APA $APT $APYX $ASH $ASIX $AYI $BAX $BCRX $BEAT $BIDU $BIIB $BKD $BKNG $BLMN $BLOK $BMY $BOOM $CACC $CALA $CARS $CCI $CDE $CELG $CENT $CGEN $CHK $CLV ... - Aragorn: @Ajax4Hire $ABT $ABUS $ACIA $ADRO $AEM $AFL $AGCO $AGX $AIG $ALGN $ALKS $ALL $AMP $AMT $ANAB $ANF $ANTM $AOBC $APA $APT $APYX $ASH $ASIX $AYI $BAX $BCRX $BEAT $BIDU $BIIB $BKD $BKNG $BLMN $BLOK $BMY $BOOM $CACC $CALA $CARS $CCI $CDE $CELG $CENT $CGEN ...
- bRobert: $CACC Big short squeeze. Nearly 20d to cover. No position yet
- Dan1946: $CACC - Dan, what about this stock for your long term Growth List?
- DAN: @Dan1946 $CACC Looking at it now, Dan1946. Great suggestion. Wish I'd seen it at $300 when it broke out; but the list isn't intended to be a "buy this right now!" list. Thanks for the suggestion.
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rachel: ...
7. $CACC – New addition to growth stock list? Maybe…but will cover in more detail this weekend, and it’s extended now. No rush here.
8. $HIIQ -- Breakout on high volume. THIS shows a change in the buy/sell price agreement. $RS ... - bRobert: $CACC short squeeze
- tigerjohn8: $CACC wish I had not sold it a couple weeks ago At new high, lots of shorts. NP but watching for any pullback
- bRobert: $CACC Watching for breakout continuation. Beat earnings, light on revenue.
- bRobert: $CACC squeeze breakout day 2. Earnings 10/30
- bla00109: @bRobert $CACC Short interest still high. On 10/13, short interest was about 4.1 million shares or 28 days to cover -- which is an increase. I increased my position with a stop at 284. Hypotheisis: Looking for short squeeze
- bRobert: $CACC Squeeze breakout from nice high base / cup . Target $320
- bRobert: $CACC noose tight
- bRobert: $CACC Squeezing. High base/ cup&handle Alert $288.35
- bRobert: $CACC Nice high base/ cup &h setup for next level. Trigger $289.50 Target $320
- bRobert: $GPN $FLT $CACC FLT nh GPN attempting breakout CACC watching for resumption breakout
- bRobert: $CACC 20d bounce/breakout retest + and continuation . Weekly cup/handle. Long term target $350
- bRobert: $BX . $CACC BX weekly noose tightening. Reports 10/19 CACC Breakout retest.
- bRobert: $CACC Squeeze breakout Flag. Holding stock
- tigerjohn8: @bRobert $CACC breakout continues to ATNH. also like this high short interest and just took an initial position
- tigerjohn8: $CACC as previously noted, a slow motion breakout to ATNH High short interest finances new car purchases I took an initial position
- bRobert: $CACC slow motion breakout
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Gary: ...
$CACC – could use more sideways consolidation now…but weekly chart shows good buying activity
$YY – still going…stop below $80.
$TER – still consolidating. But ADX/DI and Keltner/Bbands look bullish.
$PAYC – hol ... - StockMarketMentor: A Price Alert has been triggered for $CACC Credit Acceptance Corporation. Click here to view associated video clip: http://stockmarketmentor.com/stockanalysis.html?ticker=CACC&clip=92087
- bRobert: $CACC Threatening a weekly chart breakout.
- DavidM: @woodman $PYPL $V $MA $YRD $CACC $FCFS #CreditServices $SQ seems to fit and is also doing well
- woodman: @DavidM $PYPL $V $MA $YRD $CACC $FCFS $SQ #CreditServices - Yes! My bad. I have $SQ as well. Duh.
- woodman: #CreditServices working well - mainly the big ones: $PYPL $V $MA. But a few others include $YRD $EZPW (but now at resistance) $CACC $FCFS (moving out of v/s). (I have only $PYPL.)
- bRobert: $CACC squeeze.
- bRobert: $CACC Squeeze. close to support
- bRobert: $CACC .$CARA 'CACCBroken record. nh . short squeeze continues. Added to CARA. RAISED TRAILING STOPS . Weekly squeeze . Target 35
- audrina0904: @bRobert $CACC $CARA I actually took profits at 24.50 on $CARA, made about the quickest and easiest $2 I've ever made...
- bRobert: @audrina0904 $CACC $CARA I think it has much more to go. Target 35 longer term. . Raised trailing stops. These short squeezes can go farther than you think. Look at COOL . DVAX etc. Prefer partial profits in this setup with big longer term targets
- bRobert: $DVAX $CACC Short squeeze continues. Raise trailing stops
- tjv821: @bRobert $DVAX $CACC everyday I pout about when I had dvax as a loser but never got bk in :(
- bRobert: $Cacc. $GS Cacc flag. Strong chart. Bit extended. Weekly breakout target 270. Huge short interest GS coiling above 50d. Will add if resolves above 228 or bounce off 50d. Bullish target 240+
- bRobert: $CACC $STMP CACC Short squeeze continues phase 3. Look at the weekly. More to go. STMP consolidating after breakout. Also major short squeeze. Nice weekly
- bRobert: $cacc Short squeeze continues
- bRobert: $CACC Decisive breakout. 52 wk high Squeeze on weekly. High short interest
- Riccardo: $BWLD $FDX $IYT $PCLN my shorts $AAOI $MOMO $ADSK $LOGM $CACC $PI $VMW my longs
- Dan1946: Does anyone follow or track $CACC? Dan, have you ever covered this stock?
- DAN: @Dan1946 $CACC -- never heard of it, Dan. Very illiquid stock, so it wouldn't be something I look at.
- fpatrick: In addition to $CRTO another one that continued to work today was $CACC @Dan
- fpatrick: Buying $CACC - held up in yesterday's blow-off. Broke out of high base today. Found with the new scan I set up in stockcharts.com... [type = stock] and [daily sma(20,daily volume) > 25000] and [yesterday's BB Width (20,2) <0.06*[SMA (20)]] and [Upper BB(20,2) < high] and [close > upper bb(20,1)] and [[exchange is NYSE] or [exchange is nasdaq] or [exchange is amex]]
- Tricia: Make it a grand day! EARNINGS: Before Wednesday's open: $ABX, $AGN,AGP, $BEN, $CBE, $CIM, $CLH, $CLX, $CMCSA, $CVS, $DVN, $EPD, $ENR, $EIX, $EXXI G, $GRMN, $HSC,HSNI, $IACI, $ICE, $MA, $MAC, $MMP, $MRO, $MSCI, $MUR, $OAS, $OZM, $PCG, $PEG, $RDC,RRD, $SEIC,TWTC, $TWX, $UBS, $VSH, $WCG, $WXS YOKU, $VC After Wednesday's close: $AGNC, $ALL,APKT, $ATML, $ATO, $AWK, $AWH,BKD, $CACC, $CLR, $CNL, $CNQR,CVD, $CXO, $CXW, $DCT, $EIX, $EQY, $ESS, $EXPD, $EXXI,GMCR, $HIG, $HTZ, $IO, $JDSU, $KIM, $LBTYA, $LNC, $MELI, $MTD, $MUR,NGD, $NLY, $ONNN, $ONXX, $PPO, $PRU, $PXD, $REG,RIG, $RNR, $SCCO, $SHO,SHS, $SM, $SUN, $SXL, $SYMC, $TEG, $TGI,TFSL, $TSO, $TWO,V, $VVC, WES, $WFM, $WLT, WLG, $WTW, $YELP
- fstern601: Stock Screen for stocks recently at new highs that have pulled back and not hit their 20-day moving average and not violated a Chandelier stop: ACF, $ALK, $BGH, $BJRI, $BRKR, $CACC, SHSI, EVVV, $FFIV, HS, $HUM, $IGLD, $ISRG, LZ, MEND, $NFX, $NMM, $PENX, RADS, $RDWR, $SNI, $SORL, $SWM, TRCR, $VNR, $WILC, $WLP, $WRLD
| Stock Price | $498.41 |
| Change | -4.13% |
| Volume | 91,390 |
Credit Acceptance Corporation is a financing company. The Company offers automobile dealers financing programs that enable them to sell vehicles to consumers regardless of their credit history.
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Past Month
Leading Peers
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$21.47 18.47%
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$25.61 13.21%
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$241.32 10.36%
Past Month
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$15.54 -3.54%
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