Why is Kodak Stock soaring? from $1.50 low to $60 in 2 days

If you are wondering why Kodak Stock is soaring, you are in the right place. Kodak stock was trading as low as $1.50 before the company dived into the pharmaceutical business. It ended today at $60 high, but it’s now trading at $33.20 per share.

Kodak was a failing technology company that makes cameras, camera-related products, and provides many services related to photography. The company was struggling and was about to fold up again, then they suddenly change their core focus.  

Keynotes about Eastman Kodak Company 

Eastman Kodak Company (KODK) used to produce camera-related products, shockingly, the company is now making changes to dive into pharmaceutical products under the defense production Act, and this was made possible by the Trump administration.

• The company filed for Bankruptcy in 2012
• President Trump announced that the company would receive a $765 million loan to launch Kodak Pharmaceutical.
• The company will be allowed to produce generic active pharmaceutical ingredients to reduce America’s need to depend on foreign drug makers.
• The deal was announced on Tuesday, July 28, 2020, and the stock soars more than 200%
• On Wednesday the stock went up by an additional 318%
• Kodak stock saw a lot of activities and the NYSE had to halt trading on it for about 20 times.

The next question is, how high can it go before it drops?   Leave a comment below, let us know what you think.