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re: Kodak is SOARING. $2 on Tuesday.... over $50 this morning...closed at $33
Posted on 7/29/20 at 2:29 pm to LSURussian
Posted on 7/29/20 at 2:29 pm to LSURussian
quote:
And trading is halted again. The sell orders overwhelmed the buy orders causing the price to drop several dollars in less than 20 seconds creating a situation where there were no bids. None.
1
Posted on 7/29/20 at 2:43 pm to TheChosenOne
quote:
Shares of Kodak (NYSE: KODK) have risen 1500% since the news broke on Tuesday morning that the company was awarded a $765 million Defense Production Act loan from the U.S. government to ramp up domestic production of key pharmaceutical ingredients, the first loan of its kind. The surge in the stock price has raised scrutiny on stock purchases made by CEO James Continenza on June 23rd, just over a month before the transformative government deal was announced.
In the transactions, Mr. Continenza bought 46,737 shares at an average price of $2.22 per share, suggesting a paper profit of around $1.9 million from the transaction.
In response to questions about the timing of the purchase, a representative from Kodak said the purchases "are a continuation of Jim Continenza’s ongoing, regular investments in Kodak and are in full compliance with regulatory guidelines for investment activity."
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