Ally Financial (NYSE: ALLY) had an excellent month as its stock price surged 32.9% in January, according to S&P Global Market Intelligence. The stock price is currently up about 43% year to date after a difficult 2022 when it fell almost 47%. Ally Financial, the online bank and leading auto lender, saw its stock price surge after the release of its fourth-quarter earnings.
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The stock market is off to a decent start in 2023, with the S&P 500 up by about 4% with about a week left in January -- not a stellar performance but a welcome change from last year. Block (NYSE: SQ), formerly known as Square, dramatically underperformed the market in 2022, for a few reasons. There are also credit risk fears surrounding the (expensive) Afterpay acquisition, as well as the cooling off in Bitcoin prices, both significant revenue drivers for Cash App.