Kodak Stocks Drops More Than 30% Since $765 Million Loan Was Put On Hold
Written by DJ Sight on August 11, 2020
In my previous blog about Kodak’s new deal, the question I asked was I wonder what the companys stocks will look like this week after the DFC put a hold on that $765 million dollar loan.
Well kicking off the week Kodak stocks dropped more than 30% after that huge loan the company received was put on hold after suspicion of insider trading with the company CEO.
The International Development Finance Corporation said in a tweet last week that they would have to wait for the outcome of the investigation before they can move forward with the loan given the Kodak.
The $765 million dollar loan was meant to launch Kodak Pharmaceuticals which the company would produce ingredients for generic drugs in the United States.
We’ll see what happens from here what the struggling company that can’t seem to get a break.
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