I was thinking of buying some Kodak stock a few months ago - followed it for a while and then decided not to go through with it. As such, I haven't followed any Kodak news either. So I'm just curious, what happened to cause such a jump in the stock price over the last few days?
Troll has it right. There are 46 thousand individual owners of Kodak spread out all over the world, including a dude in Italy, who does NOT understand what a negative covenant means.
The advent of the almost free internet trading, combined with an Iconic name like Kodak, combined with people who simply cannot understand how a BK works, combined with a stock market that has been going up and up and up, allows pumpers to mislead themselves and others.
There is also a KOOL AID board that does not allow for intelligent dissent.
Tulip bulbs, pet rocks, dotcoms based on eyeballs, massively overvalued real estate, worthless BK stocks, etc., etc. all attract short term money simply because the price is increasing.
The greater fool theory is alive and well!
Certain delusional nut cases think that the laws of mathematics don't apply to Kodak. They even have their own website where no dissenting opinion is allowed. Anyway, I wouldn't take the recent pop in the stock price too seriously. Don't forget, there are many many people seriously underwater in this stock. They'll say anything to pump the stock up a bit so they can sell
Sentiment: Strong Sell
On Wed March 13th 2/3rds through the day there is a giant 1.8 Million share trade and that started the current pop. There is really no public info to start a pop. A Guru who wanted to buy into Kodak would vacuum up shares in lessor sized blocks; so as NOT to start a jump. Thus the current pop is oddball.