Kodak Stock Surges As Much As 1900% in Two Days After Receiving A $765 million Government Loan
Kodak stock hiked up 1900% within two days after receiving a $765 million government loan to produce coronavirus-related drug ingredients.
Kodak’s stock price tripled on Tuesday and shot up as much as 570% on Wednesday. Specifically, stock’s price soared to $53.37 per share at 10:39 on July 29, compared with a closing price of $2.62 on July 27.
Responding to the national coronavirus crisis, Kodak promises to launch a pharmaceutical division to produce essential drug ingredients in “chronic national shortage”. President Donald Trump mentioned Kodak’s decision in his press briefing on Tuesday, praising it as “one of the most important deals in the history of US pharmaceutical industries.”
At the time of press, Kodak’s stock is circulating at $34.15 per share, performing well at an increase of 329.43%.
By Lily Yang