KODAK: An Old Lady’s Mess …
Kodak on July 28 had concluded an agreement with the American government for the production of medicines, mainly hydroxychloroquine, with a monster loan for 765 million dollars. Eastmann Kodak's shares had exploded in value in the face of the new business, but was subsequently blocked by the SEC and its own investigation linked to illegal trading in the company's stock. So the loan, and the related investment and the new business, were frozen pending the completion of the investigation and the company being released from any possible criminal liability. after all, the shares had gone from $ 2.6 to over $ 30 within a few hours, leaving the door open to the worst suspects.
Of course, the investment block led to a collapse in the value of the shares, which fell below 10 dollars, and since that moment there have been no particular events…. or rather it would seem so.
Today, Kodak's shares have had a noticeable jump, even without there being any news, positive or negative, about the company:
Why this jump?
Probably the movement was a "Short Squeeze"
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The KODAK article : An Old Lady's Mess … comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/kodak-i-pasticci-di-una-vecchia-signora/ on Tue, 18 Aug 2020 19:19:24 +0000.