Kodak shares soar in active afternoon trading, as no news has been released
Eastman Kodak Co. KODK Shares,
climbed higher in active afternoon trading on Wednesday, enough to trigger a brief pause in volatility. Trading volume reached 37.7 million shares, compared to a daily average of around 7.1 million shares over the past 30 days. Shares of the printing and materials and chemicals company rose just after 2 p.m., rising from a price of around $ 9.83 (up 4.1%) to an intraday high of 13. $ 80 (up 46.2%), before reducing some gains to rise 19.6% to $ 11.29. in recent trade. Share was halted for volatility from 2:14 pm to 2:19 pm No news was released on Wednesday; the last post on the company’s website was on Jan. 27, when the company said it had won a 2020 Emmy Award for technology and engineering. Based on the latest available exchange data, the share has a short interest of 11.1 million shares, or 19.6% of the public float. The stock has now risen 58.2% in the past three months, while the S&P 500 SPX,
gained 13.9%. The stock exploded last July after Kodak received a government charge to start a pharmaceutical ingredients manufacturing company, it fell in August after the SEC launched an investigation into trading in the stocks surrounding the government loan. The stock then rallied in early December after federal regulators found no wrongdoing.