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🚀

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