Make sure you read the LAST sentence idiot - HAHAHA!!!
Another trade to watch this week concerns BlueMountain Capital's purchase of more Eastman Kodak EKOD 0.00% shares. Andrew Feldstein and Stephen Siderow manage the midsize hedge fund, which focuses on value investments. In a 13D filed on Tuesday, BlueMountain disclosed it had increased its stake in Kodak to 20.2% of the company, versus the 19.2% of the company it owned at the beginning of September.
It was around this time that Kodak surfaced from Chapter 11 after a Manhattan court accepted its reorganization plan in late August. The company's creditors also approved Kodak's plan to focus entirely on its corporate imaging business earlier in the month. Postbankruptcy, the new plan lowers debt by a little over $4 billion by paying secured creditors completely, paying unsecured creditors about 5% of total existing debt, and not paying previous shareholders.
When i log on I see either 0.03 or on other days 0.0299. Good to see a stock that is not trading still having some movement. :) Weirder still is when first go to Yahoo business and see my stocks I track it shows EKDKQ often as 0.05; then its 0.03 0r 0.0299 when on this EKDKQ page ! :)
It does not trade, there is no volume. However Yahoo finance wants to display the quote it is their business but there is no trading in this stock. All shares have been cancelled and deemed worthless.
The reorganized Kodak stock is trading right now under EKOD, and this is what bondholders and other people who lent the company money will end up owning. Old shareholders of EK, and then EKDKQ, don't own anything anymore. If you don't believe me then call up any brokerage firm and ask to buy EKDKQ or sell your EKDKQ. They will tell you to go pound sand.