Kodak Stock: The world-famous photography materials and cameras company s’ stock are fallen by 45 %. The DFC (Development Finance Corporation) also state by a tweet that they have signed a letter of interest with Eastman Kodak. They also said that the wrong allegation will make this agreement a more serious concern. And they will not proceed until these allegations have been cleared.
How does the Kodak share value increase?
Last month Kodak shows a whooping growth of 1000% on its shares. This huge increase in the Kodak share value was shocking news for the US share market. It has secured about $ 765 million as a government loan to make the essential components for the drugs and medicines.
At that point, Kodak s’ share started rising with a huge difference of $8 to $33 this is a difference of $ 25. Kodak was at its maximum point the market value of the has reached a whopping amount of $1.5 billion. It is the highest market value for the Kodak because 2 years ago it has its market value of about $ 200 million.
On the other hand, DFC says that they have already make a deal with the letter of interest with Kodak. The deal is done on 28 July regarding the loan. At that time Kodak position on the chart was 27th and also during that time its share price was a rise of 25%.
US Securities and Exchange Commission (SEC) also said that they will investigate this rapid stock increase of the Kodak and its members also.
According to The Wall Street Journal, Democratic Senator Elizabeth Warren said that this is an unusual trading activity. SEC should have to look over it make some appropriate decisions on it.
The famous newspaper New York Times stated that on 27 July there is an immediate increase in the shares by $50 million just after the 48 hours when insiders receive them.