CIT Spanking (CIT)

Posted in pre-market 
August 11th, 2009

CIT Group, Inc. (NYSE: CIT) is getting hammered again.  It has delayed its 10-Q filing amid restructuring, and the word is out that it may have to file for bankruptcy protection.  As of 8:48 AM EST we have seen 5.5 million shares trade and the stock is down 20% at $1.18.  Average volume is 65 million shares, and that should easily be hit today. -JON OGG

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