Kodak’s value has increased 15-fold, with news that some will produce materials for generic medicines to be used in Covid-19 treatment and have received over $ 750 million in state loans. Returning from bankruptcy in 2013, Kodak’s market value increased by 1500 percent from $ 92 million to $ 1.5 billion.
The shares of Kodak, which had a hard time with the digitalization of cameras and returned from bankruptcy in 2013, rose sharply with the news that the Trump administration offered to produce materials for drugs in the fight against coronavirus.
Kodak shares rose about 1500 percent this week, with Kodak announcing that it will produce materials for generic medicines and receive $ 765 million in state loans.
According to CNBC’s report, last week’s $ 2 level stood above $ 33, while the company’s valuation jumped from $ 92 million to $ 1.5 billion.
During Monday’s session, 1.65 million Kodak shares changed hands, 14 times the average of the ten-day transaction, and the shares were valued 25 percent.
Kodak CEO Jim Continenza, while the news that the coronavirus generic drug will be produced is revealed in a local source and was withdrawn shortly at Kodak’s request, Kodak CEO Jim Continenza, He told CNBC that he could not say what was affecting the increase in transaction volume, but the relevant team in Kodak tightly kept this information until the last day.
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