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Kodak shares soar as it pivots to manufacturing ingredients for Covid-19 drugs

30 July 2020 8:52 PM
Tags:
The Money Show
Bruce Whitfield
Kodak
COVID-19
Kodak Eastman

Kodak's repositioned itself so well, its share price jumped by more than 30% after already surging over 1000% in two days.

It looks like a Covid-19 graph, that's how fast it is rising!

Bruce Whitfield, The Money Show host

Kodak famously missed the worldwide shift to digital cameras, filing for bankruptcy in 2012 and relaunching the next year as materials and chemicals company.

Now it's making a comeback, again, with a loan from the US government to manufacture the ingredients for drugs to fight Covid-19.

Kodak film. Image: Pixabay.com

The Money Show's Bruce Whitfield interviews the CEO of investment management company Vestact.

It's one of those fabulous fund stories that make stock markets so great.

Paul Theron, CEO - Vestact

As you say, I mean Eastman Kodak 131 years old... It's pivoted already twice since its demise...

Paul Theron, CEO - Vestact

After that missing of the shift to digital cameras (said with a chuckle) they've repositioned themselves as a chemicals company, they had a go at being crypto-currency... but this takes the cake!

Paul Theron, CEO - Vestact

Now it's apparently the case that this Rochester, New York-based company is going to somehow get involved with the US government in manufacturing of pharmaceutical ingredients for Covid-19 drugs - maybe!

Paul Theron, CEO - Vestact

Listen to Theron's take on Kodak's comeback below:


30 July 2020 8:52 PM
Tags:
The Money Show
Bruce Whitfield
Kodak
COVID-19
Kodak Eastman

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