WASHINGTON, DC – JULY 28: U.S. President Donald Trump speaks during a news briefing at the James … [+] Brady Press Briefing Room of the White House July 28, 2020 in Washington, DC. The president announced that Eastman Kodak will receive a loan to manufacture ingredients used in pharmaceuticals. (Photo by Alex Wong/Getty Images)
Kodak stock is up over 300%, higher volatility triggered nearly twenty trading halts today. Kodak shares increased three-fold on Tuesday, and the stock is up over 1,450% approximately this week. At the beginning of the week, Kodak stock was trading at $2.77. Today, it reached a high of $60.
Kodak won a government loan to produce ingredients that are used in critical generic medicines to battle the coronavirus. The company secured a $765 million loan under the Defense Production Act. The intention is to speed up the production of the drugs that are short in supply, specifically drugs that are critical for the treatment of Covid-19.
This is not Kodak’s first time getting involved in the drug sector. In 1990, Kodak was engaged in the production of drug ingredients. Consumers are familiar with Kodak because of aspirin.
Kodak’s stock valuation has soared to just under two billion (at the time of writing this), which is a remarkable comeback for the company. Prior to this, Kodak’s shares were devastated after the industry shifted from film to filmless cameras. Now, Kodak sees itself more of a chemical company.
Kodak shares experienced over twenty-three times more volume today than its average volume. Insiders hold a twenty percent stake, and during the past six months, we have seen them increase their shareholdings by 2.6%. The stock is highly popular among retail investors. Retail traders have been highly active since the beginning of the pandemic, and stock brokerage companies have experienced a massive demand over the past three to four months.
I was awarded a national award (Young Irish Broker) in 2010. I have worked with Bank of America in equity trading and with Bank of New York in hedge fund trading, I have
I was awarded a national award (Young Irish Broker) in 2010. I have worked with Bank of America in equity trading and with Bank of New York in hedge fund trading, I have a wealth of knowledge from trading in the financial markets which spans over 10 years and specialize in forex, commodities and equities. I frequently partake across all major tier one media channels such as CNBC and Bloomberg discussing investment strategies around major macroeconomic and political events. I have often participated in panel discussions on notable events across the globe. More recently, during the Brexit referendum, I predicted the crash in sterling against the dollar to a level of 1.18 in an interview with MarketWatch. I also called the bottom in Crude oil when it was trading near $25 with numerous print and digital financial media outlets. I have also worked with top UK universities to give lectures and delivered an investment and trading course at the London School of Economics.
World news – FI – Kodak Stock Price Up Over 1,440% In Two Days