Why Kodak Stock Plummeted Today
Shares of Eastman Kodak (NYSE: KODK) plunged on Monday, as the volatile small-cap stock surrendered much of its recent gains. As of 3:35 p.m. EDT, Kodak's stock price was down more than 30%.
Following news that it had secured a $765 million Defense Production Act loan to produce COVID-related pharmaceutical components, Eastman Kodak's shares soared as much as 2,757%. From its closing price of $2.10 on July 24, Kodak's stock price hit a high of $60 on July 29.
Eastman Kodak's stock was down sharply on Monday. Image source: Getty Images.
Source Fool.com