Kodak's Stock Price Rose So Fast It Triggered 20 Circuit Breakers in 1 Day

On Tuesday, Trump announced that his administration had decided to grant a $765 million loan to KODK to create Kodak Pharmaceuticals under the Defense Production Act.

This branch will produce generic pharma drugs with the goal of reducing American reliance on foreign drug producers.

The stock rose from $2.48 to over $50 this week and has since evened out at $28 (and dropping as of midday today).

NYSE Halted Trading

On Wednesday, the stock was halted by the NYSE (new york stock exchange) 20 times as it soared over 650% in value.

ICYMI Kodak was once a leading company in the camera and film business. Due to their lack of innovation and technological know-how, the company faltered during the digital camera era and has since filed bankruptcy in 2012.

After their bankruptcy, they moved on from their old business habits and became a materials and chemicals-based company.

Now on this news of a government deal, KODK shares are climbing and it's going to be a spectacle to behold as we see what becomes of the once giant camera maker. I for one am curious to see what becomes of this deal.

Posted Using LeoFinance