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Tech stocks keep moving and our economy is showing signs of activity as money begins to pour into various streams. Kodak have been at the back of my mind for a while after hearing about their intentions to launch their own crypto, the company is no stranger to pivoting between various industries and its latest price gains going tenfold is certainly headline worthy. One might say it’s almost altcoin levels of pumpage within a couple of days but the driving force between this price movement lies within yet another pivot, this time into drug production in relation to the current ongoing pandemic. 

Kodak have been pretty much in the dumps for a long while and have been seeking a new edge. Generic drug component manufacturing is an area that the US currently see great value in at the moment and the several hundred multi-million dollar loan from the government is a major injection into its value and capital to deploy. Trading for the last few days has been bullish with shorters being left in the abyss as the markets were halted multiple times. It’s a buying frenzy for Kodak at the moment and pharmaceutical production may be the pivot that finally pays off for the century old photo specialist firm. Drug manufacturing is no easy task and pivoting to this area is raising eyebrows. How Kodak landed their government loan is currently a mystery and analysts are wondering why the sum of money did not land with other sources that are already established with proven capability. 

Current progress however, indicates that a company that has strong roots and staying power for decades is certainly well poised in pivoting into new areas. Chemical production is not something that Kodak are unfamiliar with either, Eastman Chemical Company have been operating for hundreds of years and their promise to solve drug production shortages in the States is serving as a strong foundation for approval. How this will all play out is still filled with uncertainty as selling for losses and bankruptcy over the last decade have put much strain on the company’s prospects. With money pouring in, sentiment seems to be in massive favour of the photo giant has-been and price alone is causing many holders to jump on board. Whether this all comes crashing down in the near future remains to be seen but this pivot is perhaps one of the better choices that Kodak have decided on in recent years. 

https://financialpost.com/investing/kodak-shares-rally-drugs-pivot-photography-cryptocurrency-failure  

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