Posted on 07/30/2020 9:09:49 PM PDT by SeekAndFind
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.
(Excerpt) Read more at forbes.com ...
It would be instructive to find out which Congress critters profited by trading Kodak stock.
Hmmm. I’ll have to call my sister-in-law, and see if she still has any stock in Kodak.
My wife and I have a LOT of generic medications that we use daily. I hope Kodak expands into other medication production in this country. Hopefully their manufacturing facilities are not in New York state.
“...It would be instructive to find out which Congress critters profited by trading Kodak stock....”
Yep. It would be.
The godless, vile, demonic Botoxian made how much off Amazon by Congressional insider trading? $8 million? Maybe she can now afford another $24K fridge and some more gourmet ice cream.
Would LOVE to see the Reaper “harvest” that one, along with Lil’ Ruthie.
RE: Hopefully their manufacturing facilities are not in New York state.
See here:
(EXCERPT)
The federal government is expected to provide the photography company with $765 million to support the launch of Kodak Pharmaceuticals, which will be able to produce 25 percent of generic active pharmaceutical ingredients in the country once fully operational, the White House announced.
The loan will go toward supporting startup costs needed to repurpose and expand Kodaks existing facilities in Rochester, New York, and St. Paul, Minnesota.
____________________________________
So, New York’s production facilities ( in Rochester ) will still be used.
I didn’t realize Kodak still existed in any form at all.
I thought they went the way of Sears & Roebuck, Crowleys, Montgomery Wards and Blockbuster Video.
RE: . I’ll have to call my sister-in-law, and see if she still has any stock in Kodak.
If she owned Kodak when it was trading for less than $3.00, she’d be a rich woman now. Just saying...
They repurposed into digital imaging and printing big, big time. So they print moderately high res images fast. Also use 5 colors (not just cyan, magenta, yellow and black.....but add white to print on dark papers. So they seem to be getting it going. Mostly for commrrcial applications...check out nexfinity system.
My brother worked for Kodak, and passed away in 1995. She did too until they got married. I believe she had stock in Kodak at the time of my brother’s death, but am not sure if she held on to any of it. I won’t be able to get a hold of her until Monday though.
I bought some yesterday morning and put a stop loss in of 2% which kicked in at about 41/share. I made 22% in one day.
What do we want?
TIME TRAVEL
When do we want it?
THAT’S IRRELEVANT
But damn....I had 8K available on Monday that if I had only known!!!!
How much of this was from a short trap? If a lot of people had shorted the stock (borrow shares and sell them in anticipation of prices dropping to allow you to buy the replacement stock cheaper) and the price goes up, then you have a those people trying to buy at once to clear their short position. That drives up prices with the stock market equivalent of a run on toilet paper.
If time machines were possible there would have been a brawl of time travellers on the steps of the patent office the day it opened as they all try to get patent number 1.
Kodak has always been a chemical company. Their cameras helped with the consumption of the chemicals.
Even though Kodak created the digital camera they shelved it to protect their chemical business.
Me too.
Kodak used to own the company that made Bayer aspirin in the US
So, when they got married she came back to life? :)
Average volume went from 100k shares a day to 1MM the day before the deal was officially announced.
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