Gamblers Already Pushing The New CIT

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.

cit

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.