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Kodak Shares Halted Numerous Times, Spike Over 50% As Short-Squeeze Takes Hold

Tyler Durden's Photo
by Tyler Durden
Tuesday, Aug 18, 2020 - 12:43 PM

It's deja vu all over again with Kodak shares this morning as the controversial stock has been halted four times (so far)...

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As it soars over 50% with no news catalyst at all...

As it appears the massive short-squeeze has begun...

But, some context for today's move is perhaps useful...

As the company is still dealing with the $765 million government loan being put on pause as the SEC investigates the company’s disclosure of the deal, which was officially announced on July 28.

This move comes a day after White House trade advisor Peter Navarro blasted executives at Eastman Kodak for their handling of the loan to produce pharmaceutical ingredients in the United States.

“Based on what I’m seeing, what happened at Kodak was probably the dumbest decisions made by executives in corporate history,” Navarro said.

“You can’t fix 'stupid'." he added.

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