Eastman Kodak Company provides hardware, software, consumables, and services to customers in various markets worldwide. The company operates through seven segments: Print Systems; Micro 3D Printing and Packaging; Software and Solutions; Consumer and Film; Enterprise Inkjet Systems; Intellectual Property Solutions; and Eastman Business Park. It offers digital offset plate and computer-to-plate imaging solutions, and electro photographic printing solutions to a range of commercial industries, including commercial print, direct mail, book publishing, newspapers and magazines, and packaging. The company also provides flexographic printing equipment and plates, and related consumables and services, as well as printed functional materials and components; suite of software solutions for print production workflow, as well as print and managed media services; motion picture and industrial films, chemicals, and inks; and publishing, transactional, commercial print, and direct mail systems, as well as licenses Kodak brands to third parties, and consumer products. In addition, it offers intellectual property solutions; and leases technology center and industrial complex. The company sells its products and services through third party resellers and distributors, as well as directly and indirectly to enterprise accounts and customers. Eastman Kodak Company was founded in 1880 and is headquartered in Rochester, New York.
Up over 1000%. Please understand my next statement is just a statement of fact. No other bias applied except to extrapolate some reasoning of this move. The largest shareholder is a devout Republican. And the move started two full days ahead of the announcement. Make of it as you wish.
I should post this in a couple more threads as it is very relevant to the times. https://www.ccn.com/something-stinks-kodak-insider-trading-not-executives/ "The real spike in volume may have come from government staffers in-the-know about the loan. Given the size of the loan, which exceeded the company’s market capitalization at the time, it’s a good bet that shares would head up." All to make the pharma drug no doctor wants to prescribe. https://www.dailymail.co.uk/news/ar...pharma-company-began-month-bought-shares.html
Another link with more detail on this stinky stock. https://www.cnbc.com/2020/08/01/eas...-trump-deal-windfall-on-an-understanding.html "Eastman Kodak also granted options on Monday to three other executives, worth $712,000 each, according to regulatory filings. Kodak declined to comment on the reason for these awards."
I dunno,.. Looks like they are passing out a pile of the money as rewards prior to tooling up to make drugs prescribed by the president. https://on.mktw.net/2Xo3NMi
And gosh, why was this unexpected? It wasn't. At least before this gets buried too. https://www.businessinsider.com/eli...-price-rally-sec-probe-insider-trading-2020-8 "Kodak shares spiked as much as 2,190% in the two days following the announcement, yet it also gained as much as 26% the day before information of the loan was made publicly available. "
Kodak's Government Loan Appears to Be on Hold. Expect More Wild Trading Ahead. -- Barrons.com 8/8/20, 3:38 PM Investors in the former photography giant Eastman Kodak endured unreal stock market extremes in recent weeks. Now, a government tweet sent Friday evening could mean that the wild trading will continue Monday. The U.S. International Development Finance Corporation, or DFC, tweeted that a loan due to Kodakappears to be on hold for now. The "letter of interest" in the tweet refers to a $765 million loan Kodak (ticker: KODK) will use to start a new business segment producing pharmaceutical ingredients. Kodak isn't in the drug business, and the surprise decision sent Kodak stock up 1,167% in two days beginning July 28. Shares briefly touched $60, before trading back to $14.88, down more than 75% from their 52-week high set on July 29. Investors, after the initial surge of euphoria, had to decide how to value the new pharma business. What's more, a stock pop on July 27, before the loan decision was officially disclosed, brought scrutiny from the Securities and Exchange Commission and government officials. The scrutiny led Kodak to form a board level committee to look at the news disclosure process. News of the new committee appears to have been disclosed just before the DFC tweet. The DFC followed up in a subsequent tweet that the agency remains " committed to working together with other government agencies to address critical shortfalls in America's pharmaceutical supply chain." Many pharmaceutical active ingredients, or APIs, are manufactured overseas. Kodak and DFC personnel weren't immediately available to comment on the board committee or DFC tweet. Kodak stock wasn't trading after hours on Friday. Investors can expect volatility Monday. Year to date, Kodak stock remains up 220%, far better than comparable returns of the S&P 500 or Dow Jones Industrial Average over the same span. Write to Al Root at allen.root@dowjones.com (END) Dow Jones Newswires 08-08-20 1638ET Copyright (c) 2020 Dow Jones & Company, Inc.
Full disclosure. I chased this all the way! It Popped to $60ish, dropped to $15. Thats when i decided it was uber smart to do a put. Fml. Its 50% red atm. Friday expiry. I also have a put on NKLA fyi. I will update the journal....its a loss for the time being. And when i say (A) i do mean one single contract . For both.
