One of the more intriguing moves in the market on Wednesday was the one in the Eastman Kodak Company (NYSE: KODK) stock.
The company, which was in the news some months back, saw its stock soar by 28% on Wednesday. However, it should be noted that there was no news with regards to the company’s business that could have sparked such a rally.
Despite that, it might b a good idea for investors to take a closer look at the company since it is now a target of the notorious WallStreetBets community on Reddit. The users on that page are known for having pushed the prices of stocks higher through coordinated efforts and Kodak seems to be their latest target.
These traders generally target stocks that have been targeted by short-sellers and at one point yesterday, as many as 9 million Kodak shares have been traded. Hence, it remains to be seen if the rally in the stock continues as it did in the case of GameStop recently.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.