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The Kodak stockmarket moment


You might have been familiar with Eastman Kodak, the company that rose to global prominence making photographic film that subsequently got completely crushed by the rise of digital photography and filed for bankruptcy in 2011. Anyway the company still exists and was been trading at around $2.5 per share for a while, that was until the last couple of days that is....

The amazingly fast bubble rise of Kodak 28-30 July 2020

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

The amazingly fast bubble rise then fall of Kodak 28 July 2020 to 2 August 2020

Published: Thu 30 July 2020
Modified: Sun 02 August 2020
By Janis Lesinskis
In Economics
Tags: economics bubbles mania insanity retail-investment stonks insider-trading payment-for-order-flow

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