Eastman Kodak Co (KODK.US) shares soared during today’s session amid new findings concerning $765 million loan from the U.S. government. Earlier there were some allegations about possible wrongdoing as Kodak stock had jumped even before the loan was announced. Therefore the SEC opened investigation to examine the issue. Kodak decided to hire a special committee to solve whether these allegations about disclosure issues were true - today the firm announced that the committee said none of those violated the law.
As Kodak stock saw some huge swings at the end of July, the daily chart does not really reflect price changes in recent days (note that shares surged over 70% on July 27!). Today Kodak opened with a huge bullish gap (orange circle) and price is currently rising more than 30%. Nevertheless, the gap between current levels and levels seen after the loan announcement (end of July) are enormous! Source: xStation
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.