Reuters / Brendan McDermid
- Kodak's share price rose up to 34% on Thursday as traders continued to cheer on their $ 765 million government loan to make pharmaceutical ingredients in response to the pandemic.
- The camera company's stock rose approximately 1,200% two days this week, increasing its market cap from less than $ 150 million to $ 2.6 billion.
- The breathless rally on Wednesday led the New York Stock Exchange to stop trading 20 times. CNN said.
- Robintrack dates indicate that Robinhood dealers are snapping Kodak. The number of accounts the stock is held on Wednesday rose from less than 10,000 on Monday to over 119,000.
- You can find more stories on the Business Insider homepage.
Kodak's stock rose up to 34% on Thursday as traders continued to celebrate receiving a $ 765 million government loan to manufacture drug ingredients in response to the coronavirus pandemic.
The camera company's stock price rose from $ 2.62 at the close on Monday to $ 33.20 at the close on Wednesday, an increase of around 1,200%. On Thursday, it was trading at $ 44.44.
The stock rose to up to $ 60 on Wednesday, increasing Kodak's market cap from less than $ 150 million to $ 2.6 billion.
The New York Stock Exchange stopped trading Kodak shares 20 times on Wednesday. CNN reported, when automated "circuit breakers" to combat extreme stock price fluctuations were triggered repeatedly.
The excitement surrounding the Kodak share has increased the trading volume from around 1.6 million on Monday to over 270 million on Tuesday and Wednesday. Show Yahoo Finance data.
Robinhood traders are among those who stack up in Kodak stocks. The number of accounts in the trading app in which the stock is located has increased from less than 10,000 on Monday to more than twelve times to 119,000. according to robintrack.
Jim Continenza, CEO of Kodak, is ready to be one of the big winners of the rally. He owns 650,000 Kodak shares, 3.8 million stock options and phantom shares that could bring him more than $ 135 million.