Multiple volatility halts on Kodak as it soars 450% following presidential mention (NYSE:KODK
published 29.07.2020 10:00
The president last night announced an agreement with Kodak (NYSE:KODK) for that company to produce generic drugs here in the U.S. Shares more than tripled in the regular session on Tuesday after the WSJ reported on the deal - a $765M loan to help speed domestic production of drugs.
Shares are premarket to $12.86.
Update at 10:30 AM ET: Shares are to $43.50 per share, already having blown through a number of volatility halts.
Appearing on CNBC this morning, CEO James Continenza says Kodak can be competitive in pharmaceuticals, noting it's already got a factory with its own power, steam, waste recovery, and rail system.