Kodak jumps 50% after D.E. Shaw discloses stake in the company

Eastman Kodak's recent roller-coaster ride continued on Tuesday as shares surged 50% on the back of D.E. Shaw establishing a position in the company.

A planned $765 million governmental loan for Kodak has since been sidelined after calls for investigation into the company. Shares of Kodak have been highly volatile over the last month — rising dramatically after the Trump administration said it would loan the company $765 million to pivot into drug production, and then cratering after the loan was sidelined following regulatory and congressional scrutiny.

Senator Elizabeth Warren has called for an investigation into why the loan was granted to Kodak in the first place. The democratic senator from Massachusetts previously called for an inside trading trading investigation. "There were several instances of unusual trading activity prior to the announcement, raising questions about whether one or more individuals may have engaged in insider trading or in the unauthorized disclosure of material, nonpublic information regarding the forthcoming $765 million loan awarded under the Defense Production Act," shre wrote in an open letter.

2 dollar share became 30 dollar. Then it plunges to 6 dollar now it is close to 9 dollar. Doesn't have the same 'oomph' of 1500% rise though. But hey bagholders need to make news anyway.

To write off losses.

Here we go again🚀

speakupforSSCRaliwaystudents SSCdeclareCGLresult BoycottSSCchairmain SpeakUpForSSCRailwayStudents Demands 1) fair and timely exams 2) timely publication of results 3) no ambiguity in rules of any SSC examination 4) NTPC RAILWAY examination Ssc

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: Zoom Video, Eastman Kodak, Tesla & moreSee which stocks are posting big moves after the bell. Follow Breaking_Birdie for everything golf.
Source: CNBC - 🏆 12. / 72 Read more »

Warren Buffett's Berkshire Hathaway buys stakes in Japan's five leading trading companiesNews of the purchases came on the same day the 'Oracle of Omaha' turned 90. He is washed up First Gold and now Japan. He is going where no Buffett has gone before!! MohnishPabrai byKatherineRoss ? Not buying, America, greatest capital growth engine in history? GS and MS get clobbered tomorrow?
Source: CNBC - 🏆 12. / 72 Read more »

Warren Buffett's Berkshire Hathaway reveals $6 billion investment in 5 Japanese giants | Markets InsiderWarren Buffett's Berkshire Hathaway disclosed a $6 billion bet on five of Japan's biggest trading companies in a press release on Sunday night. ... Warren Buffet does a great job in promoting Japan 🇯🇵 2017 - gop and realDonaldTrump gave Berkshire-Hathaway $29 Billion (with a B!) Is Warren Buffet foreseeing the rise of the Weyland-Yutani corporation?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Berkshire Hathaway Buys Stakes in Five Japanese Trading CompaniesWarren Buffett’s Berkshire Hathaway took stakes of slightly more than 5% in five of Japan’s most venerable corporate names with big investments in energy. ok Trump lied and People Died The Democratic Party has become the party of intolerance, censorship and racism. Democrats have incited riots and promoted Marxist revolution, but offered NO protection to law abiding citizens. The country is waking to their evil and it has sealed their fate!
Source: WSJ - 🏆 98. / 63 Read more »

Stocks making the biggest moves after hours: Zoom Video, Eastman Kodak, Tesla & moreSee which stocks are posting big moves after the bell. Follow Breaking_Birdie for everything golf.
Source: CNBC - 🏆 12. / 72 Read more »