As bank stocks helped the broader market roar to new heights, Wall Street turned a cold shoulder to the shares of a newcomer, Reliance Acceptance Group Inc.

The stock price of the Wheeling, Ill., subprime auto lender dropped 13% in the first 30 minutes of trading Thursday. And it closed at $14.75, off $2.50, or 14.5%, amid widespread pessimism about the subprime auto lending business.

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