How quickly things change. Despite entering bankruptcy on November 1st, Cit Group (CIT) is back already, with its new post-bankruptcy shares.
While the old CIT shares and taxpayers’ funds were annihilated by the bankruptcy, that hasn’t scared off a new wave of punters. CIT shares are up $2.50 on their first day so far.
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See Also:
- CIT Makes Sure Rodge Cohen Will Get Paid $965 Per Hour
- CIT’s Own Bankruptcy Exacerbates Rising Business Bankruptcies
- Amount You Personally Threw Down The CIT Rat Hole: $8