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Why Kodak Stock Plunged Today

TheMotleyFool

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Shares of Eastman Kodak (NYSE: KODK) plummeted on Friday after rising as much as 28 times in value earlier in the week. By the close of trading, Kodak's stock was down 27%.

Eastman Kodak shares surged on Tuesday and Wednesday after the company said it would receive a $765 million Defense Production Act loan to produce coronavirus-related pharmaceutical ingredients. Traders bid up Kodak's shares from a closing price of $2.10 on Friday, July 24, to as high as $60 on Wednesday.

Eastman Kodak's stock pulled back sharply on Friday. Image source: Getty Images.

Source Fool.com

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