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Followup: Kodak Stock Plunges with Insider Trader Investigation

By David Schonauer   Tuesday August 11, 2020

The big news that Kodak would be receiving a $765 million loan from the US government to help make drug ingredients caused its stock price to skyrocket. Now, notes CNN, the loan is being put on hold while regulators look into allegations of insider trading — news that caused the company’s stock price to plummet by 40 percent. Questions arose about heavy trading volume for Kodak's stock, which soared as much as 2,757 percent following the initial July 29 announcement of the loan from the Trump administration. Kodak executives including CEO Jim Continenza have been criticized about receiving stock options on July 27, a day before the loan announcement.

Read the whole story at CNN.

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