Skip to main content

Market Overview

Kodak's Stock Pops And Drops Amid Potential Short Squeeze

Share:
Kodak's Stock Pops And Drops Amid Potential Short Squeeze

Eastman Kodak (NYSE: KODK) shares soared more than 60% higher Tuesday afternoon on seemingly no news.

The controversial stock had been halted four times at the time of publication, and ZeroHedge said it appears a massive short squeeze has begun.

Under Investigation: The company's $765 million U.S. loan deal was put on hold for a pending investigation into allegations of insider trading.

On Monday, White House trade advisor Peter Navarro criticized Eastman Kodak for the handling of a government loan to produce pharmaceutical ingredients in the U.S.

“Based on what I’m seeing, what happened at Kodak was probably the dumbest decisions made by executives in corporate history,” Navarro said on CNBC. “You can’t fix ‘stupid.' You can’t even anticipate that degree of stupidity.”

KODK Price Action: Eastman Kodak shares were trading up 17% at $8.96 at the time of publication. The stock has a 52-week high of $60 and a 52-week low of $1.50.

Related Links:

Kodak Had Some Very Suspicious Trading Activity Ahead Of Drug News

A Closer Look At The Kodak Chairman's Stock Purchases As Shares Rally 1,500%

 

Related Articles (KODK)

View Comments and Join the Discussion!

Posted-In: why it's movingNews Movers Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com