Kodak Stock's Unusual Activity Prompts SEC Investigation
If you thought it was strange to see shares of Eastman Kodak (NYSE: KODK) rise significantly on the day before the company officially announced a big deal with the U.S. government, you're not alone. The Securities and Exchange Commission is investigating the way Eastman Kodak disclosed a $765 million loan from the government to produce ingredients for generic drugs.
During the trading week ended July 31, shares of Kodak soared 941%, with most of that gain occurring after Kodak released an official statement regarding the 132-year-old imaging company's new focus on generic drug manufacturing.
Image source: Getty Images.
Source Fool.com
