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Old 08-06-2009, 05:50 PM   Nav to Top  #1
Junior Trader
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Hey i just noticed that this stock has not been mentioned on the forums despite the news thats been going on about this company

CIT- For over 100 years, CIT has provided lending, leasing & advisory services to small and middle market businesses.

I had purchased 5000 shares at $1 and currently is going for about $1.62. CIT has been going through some problems and recently stated that they may go bankrupt. They've restructed their finances and CIT Group Inc. decided to move ahead with the idea of taking a small step closer to break off a bankruptcy-court filing Monday, sweetening the terms of a bond buyback that all but guarantees a definite success.""

I've noticed a lot of pumping with this stock from my own analysis that has driven the price up from the daily volumes. Even when CIT was stating they would go bankrupt I felt it was a bluff to make bondholders accept there offer than to rather see the company go under. Lets be honest here theres a lot behind the scenes that companies do manipulate their stock prices. If CIT were to go under small business in Florida will almost cease to exist as they finance many of them. Theres too many people involved in CIT for it to go under. From reports and CIT in the news it looks like bankruptcy is a thing of the past and the outlook is positive.
" volume/trading_floor_blog.aspx?single=true&blogid=94488"

Im not saying that everyone should just jump on and buy but rather do some research on the company like I have and make a sound decision to decide if this is a company that would like to get in with. Its right now paying for my summer school university fee's and my hope is that it can help other people pay off things in their life.


- "You know that song I get money, well I get ALOT of money"
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