Consumer Automotive Finance (NWAU) Stock Plummets 94% Within A Week: What’s Going On?

Consumer Automotive Finance Inc. operates as a retailer in the used vehicle market of the United States. Last Tuesday, the market of the company was closed at the value of $0.0195; the next day, it sharply dropped to $0.0100. Furthermore, today, it is markedly changed and losing about 94% in a week and is currently open at $0.0030. The amount of market capitalization is 5 billion dollars.
Besides, it is focused primarily on the “buy here / pay here” segment in the independent used car sales and financing market. The company sells approximately 2000 or more new used cars of the model year and provides appropriate financing through a lease sale. As of December 31, 2010, it had two retail stores in Arizona. The company was previously known as New Auto Group, Inc. Consumer Automotive Finance Inc. is based in Las Vegas, Nevada.