Kodak gets massive loan, turns into drug component maker

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MHshooter
MHshooter Senior Member • Posts: 1,010
Kodak gets massive loan, turns into drug component maker
4

Stock jumps 60%. I wonder who knew this would happen? They'll make components use in drugs, they've always been a chemical company, more so than a camera maker really.

https://www.bbc.com/news/business-53563601

saltydogstudios
saltydogstudios Senior Member • Posts: 2,218
Re: Kodak gets massive loan, turns into drug component maker
1

MHshooter wrote:

Stock jumps 60%. I wonder who knew this would happen? They'll make components use in drugs, they've always been a chemical company, more so than a camera maker really.

https://www.bbc.com/news/business-53563601

I saw a documentary on Fujifilm's turnaround and they followed much the same path - getting into cosmetics, drugs, etc. Here's a clip

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CMCM Senior Member • Posts: 5,854
And more on Fujifilm
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FrancoD Forum Pro • Posts: 13,705
Re: Kodak gets massive loan, turns into drug component maker

Fuji has had a medical division since the early 80s.

For example :

"We pioneered the world's first digital X-ray system in 1983. Ever since, Fuji Computed Radiography (FCR) has stayed the leader, offering the broadest product range to suit virtually every imaging application."

wklee Veteran Member • Posts: 9,457
Kodak - Chemicals

I've read Kodak was a supplier for synthetic Vitamin E as Vit. E was a product of film production.

Old article, 1st page only:

https://pubs.acs.org/doi/pdf/10.1021/ac60170a802

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ken_in_nh Senior Member • Posts: 1,096
Re: Kodak gets massive loan, turns into drug component maker

Kodak used to have a huge chemical business, Eastman Chemical, in Kingsport, TN.  A return to some sort of roots?

(unknown member) Senior Member • Posts: 2,206
Re: Kodak gets massive loan, turns into drug component maker

MHshooter wrote:

Stock jumps 60%. I wonder who knew this would happen? They'll make components use in drugs, they've always been a chemical company, more so than a camera maker really.

https://www.bbc.com/news/business-53563601

60%? The stock is up over 1200% in two days. Incredible.

After it closed yesterday at around $8, some were thinking it might move up to $20ish in the next few weeks eventually. Instead it more than doubled that guess in a single day before slightly tapering off.

Wonder who was holding on to shares from eons ago? They have to be happy with the current price.

Also will be interesting to see how it performs in the next few days.

RED i Senior Member • Posts: 1,772
Re: Kodak gets massive loan, turns into drug component maker
1

Corporate socialism live and kicking in the USA. Isn't Kodak an IP holding company now?

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Doug J Forum Pro • Posts: 11,050
Kodak's financials

RED i wrote:

Corporate socialism live and kicking in the USA. Isn't Kodak an IP holding company now?

Kodak reported 2019 revenue of $1.2 billion, mostly from their commercial printing product sales. They produce a small amount of revenue from IP licensing, they sold most of their IP years ago to cover their losses.

https://investor.kodak.com/investor-relations

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justmeMN Veteran Member • Posts: 9,792
Reuters: Kodak loan blocked

"Kodak shares plunge after U.S. blocks $765 million loan deal"

"(Reuters) - Shares of Eastman Kodak Co (KODK.N) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives."

https://www.reuters.com/article/us-eastman-kodak-stocks-idUSKCN2561JE?taid=5f318553d7d51b00018356b1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

FrancoD Forum Pro • Posts: 13,705
Re: Reuters: Kodak loan blocked

Sounds like it was a way for a few individuals to make a lot of money out of greedy ( or gullible) investors.

MHshooter
OP MHshooter Senior Member • Posts: 1,010
Re: Reuters: Kodak loan blocked
3

justmeMN wrote:

"Kodak shares plunge after U.S. blocks $765 million loan deal"

"(Reuters) - Shares of Eastman Kodak Co (KODK.N) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives."

https://www.reuters.com/article/us-eastman-kodak-stocks-idUSKCN2561JE?taid=5f318553d7d51b00018356b1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

If this turns out to be some scumbag executive who lined his pockets after getting insider info on the deal, he should get 10 years for it.  But likely won't.

ken_in_nh Senior Member • Posts: 1,096
Re: Reuters: Kodak loan blocked
1

MHshooter wrote:

justmeMN wrote:

"Kodak shares plunge after U.S. blocks $765 million loan deal"

"(Reuters) - Shares of Eastman Kodak Co (KODK.N) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives."

https://www.reuters.com/article/us-eastman-kodak-stocks-idUSKCN2561JE?taid=5f318553d7d51b00018356b1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

If this turns out to be some scumbag executive who lined his pockets after getting insider info on the deal, he should get 10 years for it. But likely won't.

I'm afraid it's all too normal in the arena of executive pay.  One reason we individuals can't do that well when we invest in individual stocks is that we're up against all sorts of insider activities that always beat us to the punch so to speak.  It's not just executives, either.  It's private equity too.  And SEC enforcement continues to weaken.

BidinTime Junior Member • Posts: 41
... it always happens
1

Someone gets suddenly rich and then they turn to drugs.

Memoochi
Memoochi Regular Member • Posts: 148
10 years easily

MHshooter wrote:

justmeMN wrote:

"Kodak shares plunge after U.S. blocks $765 million loan deal"

"(Reuters) - Shares of Eastman Kodak Co (KODK.N) fell about 40% on Monday and were on track for their worst single-day decline after the U.S. government blocked a $765 million loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of “alleged wrongdoing” by executives."

https://www.reuters.com/article/us-eastman-kodak-stocks-idUSKCN2561JE?taid=5f318553d7d51b00018356b1&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

If this turns out to be some scumbag executive who lined his pockets after getting insider info on the deal, he should get 10 years for it. But likely won't.

The SEC may kowtow to Elon Musk, but they are super-tough on insider trading.  It certainly sounds like these folks abused their duty as board members to enrich themselves.  If this does hold up, they will be going away a long, long time.

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