I'm now convinced Trump is going to just to do radical things on his way out. Possible insider trading by those involved as well.
The Trump administration on Tuesday said it plans to give a $765 million loan to Eastman Kodak – which has struggled to survive after digital cameras displaced its once-ubiquitous camera film – so the company can manufacture ingredients used in pharmaceuticals.
[font=Lyon, Helvetica, Arial, sans-serif]Shares of Kodak rallied 318% to about $25.26 a share for its best day ever. The stock skyrocketed as much as 570% to $60.00 apiece at one point. Trading was halted 20 times during Wednesday’s trading due to volatility[/font]
https://www.npr.org/sections/coronavirus...make-drugs
https://www.cnbc.com/2020/07/28/kodak-so...ients.html
I'm not a market guy. Why is this radical exactly?
(07-29-2020, 06:19 PM)Lucky2Last Wrote: [ -> ]I'm not a market guy. Why is this radical exactly?
It's not unless someone bought stock ahead of the announcement.
Pharma companies don't want to provide drugs or the potential vaccine for cheap, so Trump is going around the lobbyist and helping a company willing to make cheap drugs.
Left: Evil Trump doesnt care about health care
Trump side steps corrupt pharmaceutical companies in an attempt to lower drug prices
Left: Trump is evil. Arrest that man for insider trading.
Only dumb liberals would be upset about this.
I wasn't aware that Kodak actually still exists. I remember when it was a member of the Dow 30, and widely touted as a value stock. But they missed the move to digital cameras, and finally declared bankruptcy in 2012. Then the tiny little company that was left went into the manufacture of generic drugs. Their market cap a couple of weeks ago was $115 million.
Creating jobs, lowering drug costs and reestablishing drug manufacture on U.S. soil so that it can't be
held hostage by China? Trump is clearly out of control.
Sounds like a good deal. If there was insider trading leading up to the announcement, prosecute it. Even if there was, though, it's still a good a deal.
Kodak CEO's personal fortune soars by $79MILLION after he bought thousands of shares in June before $765million government loan to the fallen photo giant sparked stock rally
- Kodak CEO Jim Continenza's wealth has swelled by $79million thanks to a US government loan for the ailing company to produce pharmaceutical ingredients
- On Tuesday Donald Trump announced a $765million government loan for the fallen photo giant to help confront the coronavirus crisis
- Continenza's stock options had no value on Monday, but were worth $59 million on Wednesday following a rally in the stock
- He owned 650,000 Kodak shares by June 23, which rose in value by $20million
- However, his recent purchases of Kodak stock have raised eyebrows
- Continenza bought 46,737 shares on June 23rd at $2.22 and his profit for that purchase alone is nearly $1.6 million
https://www.dailymail.co.uk/news/article...-loan.html
(07-30-2020, 10:14 AM)The Drifter Wrote: [ -> ]Kodak CEO's personal fortune soars by $79MILLION after he bought thousands of shares in June before $765million government loan to the fallen photo giant sparked stock rally
- Kodak CEO Jim Continenza's wealth has swelled by $79million thanks to a US government loan for the ailing company to produce pharmaceutical ingredients
- On Tuesday Donald Trump announced a $765million government loan for the fallen photo giant to help confront the coronavirus crisis
- Continenza's stock options had no value on Monday, but were worth $59 million on Wednesday following a rally in the stock
- He owned 650,000 Kodak shares by June 23, which rose in value by $20million
- However, his recent purchases of Kodak stock have raised eyebrows
- Continenza bought 46,737 shares on June 23rd at $2.22 and his profit for that purchase alone is nearly $1.6 million
https://www.dailymail.co.uk/news/article...-loan.html
This is normal for C-suite. They generally are limited in when they can buy and sell. While not great, it happens all the time. If you go after him, you have to go after every CEO.
There was definitely some insider trading going on, go look at the volume charts...74k shares traded on 7/24 and then over 1.6M shares the next trading day on 7/27. On 7/28 the price more than triples...someone or some group got tipped off.
(07-30-2020, 01:36 PM)KingIngram052787 Wrote: [ -> ]There was definitely some insider trading going on, go look at the volume charts...74k shares traded on 7/24 and then over 1.6M shares the next trading day on 7/27. On 7/28 the price more than triples...someone or some group got tipped off.
Did you bother to read the post before yours?
It happens all the time... the people involved always know whats going to happen before it happens, and they can make a HUUUUGE profit... it's only illegal if they tell others about it.
Good for those who made money and even better for the country who won't have to rely on a foreign adversary for pharmaceuticals when the next pandemic hits.
Call me crazy, but I feel like the "physical" picture is prone to make a comeback. Kodak will rise again!
(07-30-2020, 03:44 PM)TrivialPursuit Wrote: [ -> ] (07-30-2020, 01:36 PM)KingIngram052787 Wrote: [ -> ]There was definitely some insider trading going on, go look at the volume charts...74k shares traded on 7/24 and then over 1.6M shares the next trading day on 7/27. On 7/28 the price more than triples...someone or some group got tipped off.
Did you bother to read the post before yours?
It happens all the time... the people involved always know whats going to happen before it happens, and they can make a HUUUUGE profit... it's only illegal if they tell others about it.
I did, I am well aware of the rules you reference and how often it happens and how often no one really cares. But, the date in that posts/article says June 23rd, the referenced spike was after that (July 27). It could've been him buying more shares, which would be in some disclosure somewhere that I'm not going to go digging for, or it could've been someone else who knew/got tipped off about it.
Either way, it must be nice to be those people!
(07-30-2020, 04:51 PM)KingIngram052787 Wrote: [ -> ] (07-30-2020, 03:44 PM)TrivialPursuit Wrote: [ -> ]Did you bother to read the post before yours?
It happens all the time... the people involved always know whats going to happen before it happens, and they can make a HUUUUGE profit... it's only illegal if they tell others about it.
I did, I am well aware of the rules you reference and how often it happens and how often no one really cares. But, the date in that posts/article says June 23rd, the referenced spike was after that (July 27). It could've been him buying more shares, which would be in some disclosure somewhere that I'm not going to go digging for, or it could've been someone else who knew/got tipped off about it.
Either way, it must be nice to be those people!
It would depend on their corporate rules. Most of the stock trades are made well in advance and generally only available every 6 months, maybe 1 time a year.
The spike certainly could have been someone leaking it. Everyone wants to leak now, so who knows who knew what.
(08-04-2020, 01:28 PM)HURRICANE!!! Wrote: [ -> ] (08-04-2020, 01:09 PM)homebiscuit Wrote: [ -> ]Film is making a comeback.
Hilarious !!!
Selfie mode
![[Image: depositphotos_253631924-stock-photo-youn...h-long.jpg]](https://st4.depositphotos.com/23978452/25363/i/1600/depositphotos_253631924-stock-photo-young-female-model-with-long.jpg)
Once Trump bans social media people are going to have to share physical instant photos. They are just getting ahead of the curve.
(08-04-2020, 01:34 PM)_rushing Wrote: [ -> ] (08-04-2020, 01:28 PM)HURRICANE!!! Wrote: [ -> ]Hilarious !!!
Selfie mode
Once Trump bans social media people are going to have to share physical instant photos. They are just getting ahead of the curve.
My mom still keeps physical scrapbooks. I laugh at her, but find myself looking at them every time I go to her house. I also have thousands of pictures broken up into folders by year that I haven't looked at since I took them. It's easy to get carried away with digital pics and you tend to keep more meaningful ones when they are in a physical book.
Having said that, I can see the Polaroid making a comeback. If for nothing more than nostalgic physical, in your hand pictures.
![[Image: 1ily6w.jpg]](https://i.imgflip.com/1ily6w.jpg)