CIT Group Inc. (CIT) To Attract Selling On Further Rise

CIT Group Inc. (NYSE: CIT) gained 4.2% to $37.81 by early afternoon trading on Wednesday. The commercial lender CIT Group Inc. (CIT) told investors its book value increased to $41.99 a share, more than forecast and 15% above its stock price.

However, in the wake of the liquidity crunch and bankruptcy issues, CIT Group Inc. (CIT) failed to attract much volume even after the positive statements on Wednesday. CIT Group Inc. (CIT) may now attract selling on every rise.