Why Kodak Stock Is Soaring More Than 500% Today
Shares of Eastman Kodak (NYSE: KODK) are skyrocketing again on Wednesday, following the technology company's incredible 203% gain on Tuesday. As of 10:40 a.m. EDT today, Kodak's stock was up a staggering 570%.
Eastman Kodak shares surged on Tuesday after the company said it would receive a $765 million loan from the U.S. International Development Finance Corporation (DFC). It's the first such loan under the Defense Production Act (DPA) and an executive order issued by President Donald Trump, which authorizes the DFC to work with the Department of Defense to bolster the nation's response to COVID-19.
Eastman Kodak's stock has delivered torrid gains to investors in recent days. Image source: Getty Images.
Source Fool.com
