Name: Kodak Stock Up More Than 1,000% On Deal To Produce Generic Drug Ingredients | The Motley Fool
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Kodak Stock Up More Than 1,000% On Deal To Produce Generic Drug Ingredients | The Motley Fool

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By-Jul 29, 2020 at 10:38AMYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.Market Cap$429MToday's Change(2.58%)&nbsp;$0.14Current&nbsp;Price$5.57Price as of September 12, 2022, 4:00 p.m. ETEastman Kodak , the beleaguered film company that was forced into bankruptcy as digital cameras took over the world, has found a new business entirely. The stock skyrocketed today on news that it was awarded a government loan for $765 million under the Defense Production Act to help the company begin producing generic drug ingredients.It's a surprising turn for what was primarily a photography-based business. The deal is a play on improving America's ability to rely on domestic production of pharmaceutical products amid the coronavirus pandemic. Kodak's facilities in Rochester and St. Paul, Minnesota are the focal points of the new pharmaceutical side of the business which will be called Kodak Pharmaceutical. Kodak said it will focus on making essential ingredients that the Food and Drug Administration has identified as there being a national shortage of.Some analysts are questioning the move, wondering why the deal wouldn't have been given to a company already involved in the pharmaceutical industry. President Trump may have held a preference for a producer outside of the current drug regime. Political tensions have increased this week, as pharma executives and analysts react to Trump's recent executive orders that aimed to lower drug prices.Whatever the reasoning, it's a fascinating chance for Kodak to make a new start, and So far this week, the stock is up around 1,150%. The company came out of bankruptcy in 2013 and has struggled to grow over the last five years. Moving into a field like drug sales could provide a good avenue for the photography pioneer.*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.Market-beating stocks from our award-winning analyst team.Stock Advisor Returns368%&nbsp;S&amp;P 500 Returns120%Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/13/2022.Discounted offers are only available to new members. Stock Advisor list price is $199 per year.Cumulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted Return since 2002. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns.Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.Current

By-Jul 29, 2020 at 10:38AMYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.Market Cap$429MToday's Change(2.58%)&nbsp;$0.14Current&nbsp;Price$5.57Price as of September 12, 2022, 4:00 p.m. ETEastman Kodak , the beleaguered film company that was forced into bankruptcy as digital cameras took over the world, has found a new business entirely. The stock skyrocketed today on news that it was...

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Kodak Stock Up More Than 1,000% On Deal To Produce Generic Drug Ingredients | The Motley Fool

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