Eastman Kodak up 300%+ after winning NPA loan

Jul. 28, 2020 10:15 AM ETEastman Kodak Company (KODK)KODKBy: Liz Kiesche, SA News Editor138 Comments
  • Eastman Kodak (NYSE:KODK) soars 324% in morning trading after the Wall Street Journal reports the company won a $765M government loan under the Defense Production Act to help speed the domestic production of drugs that can treat a range of medical conditions and reduce U.S. reliance on foreign sources.
  • Kodak, once a giant in photography, is readying production of ingredients for generic drugs, including the antimalarial drug hydroxychloroquine that President Trump has plugged as a treatment for COVID-19.
  • The loan, which comes from the U.S. International Development Finance Corp. — a government agency similar to a bank —  is the first of its kind under the DPA.
  • The loan, similar to a commercial loan, must be repaid over 25 years, Kodak CEO Jim Continenza told the WSJ.
  • The company will make "starter materials" and "active pharmaceutical ingredients" used to make generic drugs.
  • For the bull case on the stock, see Eastman Kodak Company: A Potential Turnaround Around The Corner.

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