Kodak shares soar nearly 1500 per cent on COVID drug loan deal
New York/Washington | Kodak shares have surged 1481 per cent this week in heavy trading as the Trump administration offered the former photography industry leader a financial lifeline to make ingredients in drugs used to fight coronavirus.
The company’s valuation jumped from $US92 million to $US1.5 billion ($2.1 billion) as its shares rose from $US2.10 at Friday’s close to $US33.20 on Wednesday (Thursday AEST). The stock was halted more than a dozen times within the first two hours of trading on Wednesday, a day after it more than tripled in value.
Financial Times
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