Short seller takes small bite out of Credit Acceptance

|About: Credit Acceptance Corpor... (CACC)|By:, SA News Editor

The "squeeze" higher in Credit Acceptance Corp. (CACC -0.5%) over the past few weeks is offering a great opportunity to short a "red-flag riddled" stock, says Prescience Point Research.

"Where's the money," asks Prescience Point, noting a $1B gap between dealer holdback paid and what CACC should have paid. The team also spots more than $100M in insider sales this year.

The price target of $90 compares to the current $208.91.

CACC slid more than 1% on release of the report a few minutes ago, but now is down just 0.5%.

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