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