Eastman Kodak Co. KODK Shares,
It nearly tripled (up to 192%) in very active pre-market trade on Tuesday to a maximum of 2.5 years, after a report that the print and advanced materials and chemicals company obtained a government loan of $ 765 million to help with the production of drugs to treat a variety of medical conditions. Trading volume soared to 10.3 million shares, compared to the full-day average of approximately 272,000 shares, and enough to make the share the most highly-priced on the previous market. The Wall Street Journal reported that the loan is from the US International Development Finance Corporation, a government agency that functions as a bank, and is awarded under the Defense Production Act, to loosen dependency on foreign sources. The loan is for Kodak to produce starting materials and active pharmaceutical ingredients used to produce generic drugs, according to the WSJ report. The stock, which was on track to open at the highest price seen during regular session hours since February 2018, had fallen 43.7% year-to-date to Monday, while the S&P 500 SPX,
It has gained 0.3%.
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