Markets

Stock Alert: Eastman Kodak Adds 5%

(RTTNews) - Eastman Kodak Co. (KODK) shares are rising on Friday morning trade, building its momentum from yesterday.

Currently, shares are at $11.63, up 8.65 percent from its previous close of $10.70 on a volume of 57,332,615. The shares have traded in a range of $1.50 to $60.00 on average volume of 27,621,215.

In response to COVID-19, the Federal government has shortlisted Kodak to receive a loan $765 million loan and that would have helped to launch Kodak Pharmaceuticals to produce key ingredients for COVID 19 treatments.

The stock has soared to more than $60 from single digits, however, fell on reports of insider trading. On Wednesday, KODK climbed nearly 79 percent on a  special committee's legal report that the company has not violated internal policies or the securities regulations or other laws.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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