What happened before Kodak's moment

Kodak, once an iconic American brand valued at $30 billion, has been in dire straits for more than a decade. It filed for bankruptcy in 2012 and emerged in 2013. But Kodak, which built its business selling film, never successfully transitioned to digital. 

After bankruptcy, Kodak's old stock was worthless, but the newly issued shares peaked at over $36 in early 2014. But since then, it has rapidly declined, with the price mired well below $3 since March. In recent years Kodak has been selling its patents, buildings, and other assets for cash. In 2018, the company attempted a pivot to cryptocurrency. 

Then, late Tuesday afternoon, everything changed. President Trump announced that he was "using the Defense Production Act to provide a $765 million loan to support the launch of Kodak Pharmaceuticals." Kodak would now "produce generic active pharmaceutical ingredients," reducing the country's reliance on China. Trump described it as "one of the most important deals in the history of U.S. pharmaceutical industries."

The deal was also announced in Kodak's home city of Rochester, with White House adviser Peter Navarro in attendance.

See the real story at the link below.


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