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

) 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.

But alarms were raised after senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan. “Recent allegations of wrongdoing raise serious concerns,” U.S. International Development Finance Corp said late on Friday in a tweet.

If this type of shenanigans are happening at this wholesale level, can you imagine what’s happening with the billions of taxpayers dollars at the retail level?

People are mad at not giving a dying camera company nearly a billion dollars? Thats who we want helping with a vaccine? Lol.

Good ol pump and dump

Announced after the Friday bell closed. Allows large investors to bail over weekend before the regular folks get boned Monday morning.

This just in: LL Bean will try this con.

LOL

Great! There is corruption in government preferential loaning too for vaccines! There’s no end to this!

What’s truly hilarious is that it’s still 4x where it was before this nonsense began

😂

There's no end to the corruption from the Trump admin.

Do You Want To Create 10 Amazing Animated Logo Intro Video In $5 ? Contact Me : LogoAnimation Intro Video Video Intro Top Logo Animation Best Logo Animation

Turns out you actually need virologist and chemist to participate in virology and chemistry.

Sucks for all those people who bought stocks in it thinking it was gonna blow up.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eastman Kodak's $765 million U.S. loan agreement on hold after recent allegationsEastman Kodak Co's $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to 'recent allegations of wrongdoing,' the U.S. International Development Finance Corp (DFC) said. Thank Elon Ya think? trumpiscorrupt GrifterInChief VoteBlueToEndThisNightmare Whoops! Do those Robinhood players have a right of rescission?
Source: Reuters - 🏆 2. / 97 Read more »

Stocks making the biggest moves premarket: Marriott, Eastman Kodak, Twitter, FedEx & moreThese are the stocks posting the largest moves before the bell.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves midday: Kodak, MercadoLibre, Simon Property, Foot Locker & moreKodak shares tank after federal loan is put on halt. Foot Locker jumped on strong same-store sales data.
Source: CNBC - 🏆 12. / 72 Read more »

Kodak pharma deal held up over reported questions about stock moveIn a tweet Friday evening, the U.S International Development Finance Corporation said it was holding up a deal with Kodak as regulators reportedly look into trading activity that sent Kodak's shares surging on news of the initial agreement. Hard to believe any deal brokered by realDonaldTrump might have been.....suspicious, illegal If they can do it，it is a great deal This deal is the craziest thing I’ve ever seen in my life.
Source: CNBC - 🏆 12. / 72 Read more »

Fortunes Won and Lost Trading in Kodak Stock: Inside a Wild WeekFor one novice trader, news of Kodak’s government loan signaled the perfect time to buy. When he sold out of the stock only days later, he was down $30,000. “I guess what I learned is trading is just gambling. That’s a fact.” Trading is not the same as investment Highly depends on how you 'trade'... LMAOOOOOOOO
Source: WSJ - 🏆 98. / 63 Read more »