The Kodak stockmarket moment
You might have been familiar with Eastman Kodak, the company that rose to prominence making photographic film that got completely crushed by the rise of digital photography and filed for bankruptcy in 2011. Anyway the company still exists and has been trading at around $2.5 per share for a while, that was until the last couple of days that is....
Within a half an hour the share price rose from around $20 to $60, with the majority of that time seeing no movement due to the trading of the stock being halted due to high volatility. Let's see how fast/much the crash drops it. The spark for this bubble was a large government grant for the company to do some covid related work that caused a tsunami of retail investors to pile in.
If this isn't a summary of retail investing in 2020 I just don't know what is. A bit like the Hertz initial bankruptcy offering this just shows the power of retail investing to be able to move individual stocks, fundamentals be damned. I know there's something really important I need to learn from this, but I'm not quite sure what it is yet.
EDIT: Here's what Kodak stocks look like a few days later