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Kodak’s heavy-volume stock rockets after committee employed by company find no laws violated with loan advertising



Shares in Eastman Kodak Co. KODK,
-4.15%
rose sharply by 51.9% on very heavy volume in pre-market trading on Wednesday after a special committee appointed by the digital image processing and printing system company to investigate how it revealed a US government loan found that no laws were broken. Trading volume peaked at 16.9 million shares, making the stock the most traded before the open and compared to the full-day average of 21.4 million shares. The committee found several issues with Kodak̵

7;s governance around how the news of the $ 765 million government loan was announced, but nothing illegal. The Wall Street Journal reported. The stock had risen 1,481% in three days after news broke that it received a $ 765 million government loan to help manufacture drugs at U.S. factories, but the WSJ reported that the Securities and Exchange Commission launched an investigation when the stock began to rally before Kodak announced news. Kodak’s share has risen 34.0% year to date until Tuesday, while the S&P 500 SPX,
+ 0.52%
has received 5.3%.


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