This Warren Buffett Stock Just Fell Under $40: Time to Buy the Dip?

Ally Financial (NYSE: ALLY) spooked investors last week. At an investment conference, an executive said that delinquencies and net charge-offs for its consumer automotive loans rose in the past two months. This is not good for an already struggling banking business. If fewer people are paying back their loans, Ally will make less in profit. After the update, Ally's stock plummeted close to 20% and now sits at about $33.The largest investor in Ally is Berkshire Hathaway, the conglomerate run by legendary investor Warren Buffett. The company has held its shares in Ally even though it has trimmed the majority of its exposure to the banking sector in the past year or two. With Berkshire Hathaway still -- at least as of the end of the second quarter -- holding its position in Ally, does now look like a good buy-the-dip opportunity for the stock? Let's take a closer look and find out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool