After a sharp sell-off during the day due to concerns about a Chapter 11 filing, CIT (CIT) rallied by over 20% after hours on rumors that the federal government may provide bailout funds.
The Wall Street Journal broke the story. Of course, the company may deny it and the shares could sell down below $1 tomorrow.
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After a sharp sell-off during the day due to concerns about a Chapter 11 filing, CIT (CIT) rallied by over 20% after hours on rumors that the federal government may provide bailout funds.
