Kodak Soars 258% On 142 Million Shares

Good old Kodak long time ago diversified its product range after losing to digital camera makers like Sony, Fujitsu, Canon, Nikon, and many more. Even now Eastman Kodak focuses on printing and photography businesses along with industrial materials and healthcare fields.

To make generic drugs Kodak just received a loan from the government in the amount of $765 million. Therefore its stock KODK soars more than 250% from $2.62 to $11.37 by increasing daily volume to around 142 million shares.

Even though Eastman Kodak has funds from internal sources getting a loan to speed up the production of the generic drug is essential for future earnings. Obviously its EPS is decreasing due to shrinking revenue and moving on with new drugs is the only solution.