The number of Robinhood users holding Kodak stocks soars after Trump admin announces $765M loan

As of Thursday afternoon, more than 125,000 Robinhood users held Kodak stocks, a more than 1200% increase from last week. 

Kodak's stock soared after the company secured a $765 million loan from the Trump administration to launch a pharmaceutical manufacturing business. Kodak stocks jumped up by over 200% on Tuesday, increasing to 318% by Wednesday. On Thursday, the stock price has fallen about 14% as of press time, hovering around $28. (Eagle-eyed stock watchers noted that Kodak's stock moved upward prior to the Trump administration's announcement, raising concerns about a possible leak that the company's CEO declined any knowledge of.) 

Kodak, once known for its film and cameras, has pivoted several times since it declared bankruptcy in 2012. In May, Kodak reported a GAAP net loss of $111 million for the first quarter of 2020.

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