Kodak Stock Saw Massive Increase In Trades Day Before Trump’s Loan Announcement
On Tuesday, President Trump announced he was providing a $750 million loan to Kodak to help the company get into the generic drug business.
However, Kodak’s trade volume saw a massive increase on Monday, suggesting someone caught wind of the announcement before it was made.
Joe Kernen of CBS’ Squawk Box questioned CEO James Continenza.
“The volume is very average, was very average.” The volume of shares was in the tens of thousands until Monday when volume exploded to 1.6 million shares.
Continenza claimed it was a well-kept secret but Kernen pressed forward “I don’t know if it was -- it doesn’t look like a well-kept secret.”