US Govt $756 million defense loan to Kodak raises eyebrows, stock surges 530% after deal

03:54

Kodak was recently awarded a $765 million loan under the Defense Production Act to produce pharmaceuticals to lessen reliance on international manufacturers. The company’s stock surged by more than 2,300 percent within two days of the announcement, and the company's CEO, Jim Continenza, had received stock options just before the deal was announced, The New York Times reported.