Why Kodak Stock Soared Today
Shares of Eastman Kodak (NYSE: KODK) surged 25.6% on Thursday, furthering the stock's rebound following its internal investigation of the events surrounding its loan award from the U.S. government.
Kodak's stock price skyrocketed in late July after it was awarded a $765 million Defense Production Act loan, which was meant to help it launch a new pharmaceutical supply business. However, some of the stock's gains came the day before the award was announced, and lawmakers demanded there be an investigation into potential insider trading and other possible wrongdoings.
Eastman Kodak's shares rose sharply on Thursday. Image source: Getty Images.
Source Fool.com
