Yesterday Kodak stock shares rose about 7% (= $.02) on news of new products at the Consumer Electronics Show, but today it went gangbusters on news of a restructuring of the company designed to cut costs, simplify units, and turn a profit. In short, Kodak announced that it is moving from three divisions to two, commercial and consumer. It also appears to be peeling off some of the paper and film business, but no firm verification of that. What analysts have been saying is that Kodak will become a printer-centric business-to-business company with perhaps a small digital print consumer division. The news sent EK shares up 52% (=$0.21, to $0.61) by the end of the day. That’s just shy of the $0.62 average per share I paid a week ago, so I’m essentially back to where I started — and wishing I had bought another 250 shares when it hit a low of $0.37 last week . . . .
UPDATE 1/11/12 : EK shot up another 35% today, to $0.80/ share. It’s now the most profitable stock in my portfolio! For now….
Share this post via:
