Government move is 'game changer' for Kodak
Northwestern expert available to comment on Kodak stock boom
On Wednesday, Kodak stock soared after the Trump administration announced that the company will be transformed into a pharmaceutical producer under the Defense Production Act. A Northwestern University expert in the impact accounting variables have on stock returns is available to comment on this recent surge.
Matthew Lyle is an associate professor of Accounting Information and Management in Kellogg School of Management at Northwestern. His research focuses on the impact that accounting information has on the valuation of traded assets such as equities. He can be reached by contacting Molly Lynch at 773-505-9719 or email@example.com.
Quote from Professor Lyle
“Kodak was an iconic name in the camera world and an important company for the city of Rochester. It was a member of the S&P 500 before it was delisted and eventually sought bankruptcy protection. It has plodded along since it emerged. When the government asked them to manufacture ingredients for pharmaceuticals, the stock exploded to more than 14 times its starting value — an incredible move.
“In this environment, it is hard to say if this move is justified, it’s a big jump with limited information about how well the firm can actually execute this request. But the company has essentially been given huge support from the federal government to be a part of pharma production and for a company like Kodak, that is a game changer.”