KODK Stock Price: Kodak surges on big name investment and anticipation of loan activation
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CLAIM OFFER- NYSE:KODK rises 5.24% after a renowned investment firm initiates a new position.
- Investors anticipate the federal loan being released and Kodak to begin supplying the U.S. with active pharmaceutical ingredients.
It has been a strange year for a multitude of reasons but not the least of which has been the sudden resurgence of Eastman Kodak (NYSE:KODK) as a stock to invest in again. Kodak made headlines after receiving a $765 million government loan from the Trump Administration in July to jumpstart domestic production of active pharmaceutical ingredients – some that were being planned to use in a potential coronavirus vaccine. Kodak shares spiked over 3000% on the news of the loan and the once-dormant photography stock was making headlines all over the investing world.
Since that surge, the stock has come back down to Earth falling over 90% since it reached its 52-week high of $60. News of insider training and dishonest executive decisions soured investors – especially after the loan was paused based on an SEC investigation into the company. Recently, renowned investor David Shaw of D.E. Shaw & Company has initiated a position in Kodak, giving investors the impression that shares may have reached their bottom. While trading at only 0.36x sales and with cash reserves equal to $2.83 per share – Shaw may have seen this as too cheap of an opportunity to pass up given the current climate.
KODK stock news
Even with Shaw’s investment, it is difficult to remain excited about shares of Kodak as inept ownership making bad decisions should always be a red flag to investors. There is an ongoing push from the Trump Administration to return pharmaceutical manufacturing back to US soil so as not to rely so heavily on China. The Federal election in November could have an effect on this sentiment and while shares of KODK could rise – they could just as easily return to obscurity.
- NYSE:KODK rises 5.24% after a renowned investment firm initiates a new position.
- Investors anticipate the federal loan being released and Kodak to begin supplying the U.S. with active pharmaceutical ingredients.
It has been a strange year for a multitude of reasons but not the least of which has been the sudden resurgence of Eastman Kodak (NYSE:KODK) as a stock to invest in again. Kodak made headlines after receiving a $765 million government loan from the Trump Administration in July to jumpstart domestic production of active pharmaceutical ingredients – some that were being planned to use in a potential coronavirus vaccine. Kodak shares spiked over 3000% on the news of the loan and the once-dormant photography stock was making headlines all over the investing world.
Since that surge, the stock has come back down to Earth falling over 90% since it reached its 52-week high of $60. News of insider training and dishonest executive decisions soured investors – especially after the loan was paused based on an SEC investigation into the company. Recently, renowned investor David Shaw of D.E. Shaw & Company has initiated a position in Kodak, giving investors the impression that shares may have reached their bottom. While trading at only 0.36x sales and with cash reserves equal to $2.83 per share – Shaw may have seen this as too cheap of an opportunity to pass up given the current climate.
KODK stock news
Even with Shaw’s investment, it is difficult to remain excited about shares of Kodak as inept ownership making bad decisions should always be a red flag to investors. There is an ongoing push from the Trump Administration to return pharmaceutical manufacturing back to US soil so as not to rely so heavily on China. The Federal election in November could have an effect on this sentiment and while shares of KODK could rise – they could just as easily return to obscurity.
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