Hah. That's not even the half of it. The average trading volume for the DAY before the announcement was up 20x average daily trading volumes. I hope they get slapped shitless. This stinks of insider trading.I wonder what the traditional drug manufacturers think of all this?
I wonder what the SEC thinks of all this. Insider trading bonanza? Apparently Kodak Chairman Jim Continenza bought 46,737 shares of Kodak stock on June 23 at an average price of $2.22. Roughly a month later, that $103,575 investment is now worth more than $1.5 million
Not sure if accurate but I saw this online.Hah. That's not even the half of it. The average trading volume for the DAY before the announcement was up 20x average daily trading volumes. I hope they get slapped. This stinks of insider trading.
It helps if you look a little bit harder. That graph you posted is not correct.
I just read an article that high volume of shares being transferred was a deal struck between Kodak and Jim Continenza, where he was awarded 1.75 million shares as a bonus. Numbers still don't add up perfectly, but that surely accounts for the bump in traffic.Would you say the tall bar is roughly 20x taller than the previous shorter bar? If so, the graph is accurate - according to the CNBC article you posted anyway: "On Monday, prior to the announcement, 1,645,719 shares traded hands in the stock, far surpassing Friday’s 74,893 trades, and Thursday’s 80,840 trades . . .over the last year the average daily trading volume has been 236,479, according to FactSet."
It looks like we'll find out. SEC is going to investigate. I think the 1.75 million shares were just options. I don't think that would show up in trade volume.I just read an article that high volume of shares being transferred was a deal struck between Kodak and Jim Continenza, where he was awarded 1.75 million shares as a bonus. Numbers still don't add up perfectly, but that surely accounts for the bump in traffic.
More like "we have successfully lost any market share we had left in the print industry through poor product management and archaic technology that was never advanced, so now we need to do something..."Kodak is moving into pharmaceutical manufacturing, but "remain 100% committed to print and will continue to invest in ground-breaking innovations, especially in digital print. Print will be an important revenue source as the new pharmaceutical business gets up to speed.” ~Kodak executive chairman Jim Continenza
Lol, sounds to me 'print is going away so we need a new source of revenue.'
Kodak stock briefly surged more than 80% on Wednesday after a special committee's investigation found no evidence of insider trading prior to the announcement of a US government loan.www.cnn.com
"Although the review found no signs of Kodak breaking the law, it did find the company mishandled stock options granted to its CEO in the days leading up to the loan deal being signed."
"Kodak CEO Jim Continenza and other Kodak executives fell under scrutiny for receiving stock options the day before the loan's announcement on July 27."
"The review by Akin Gump concluded insider-trading laws were not violated,"
"However, the report did find Kodak at fault for the early disclosure of the government loan a day before it was officially announced, but not in violation of the laws."
It may not technically be "insider trading" however IMHO it still stinks of taking advantage of insider knowledge.