Volume Spike Investor

CIT Group Inc. (NYSE: CIT) has already surpassed its average daily volume of the last three months.  The 19% surge to $1.20 is on 57 million shares as of 10:30 AM EST.  We have not seen any formal news, but the hopes and theories are that the higher debt swap ofer has the company still surviving the current environment.  We have also been told that there is a research report out there circulating over the implied books after its tender, although that has not been located.  Average volume is “only” 54.2 million shares. -JON OGG