KODK - Eastman Kodak: Overhead Technical Resistance To Stifle Recent Upward Momentum
2024-06-21 12:22:53 ET
Summary
- Kodak's share price has increased by over 28% in the past 12 weeks, outperforming the S&P 500.
- Sales growth for Kodak remains negative, with revenues dropping by $29 million in the first quarter.
- Despite margin improvements, investments over the past year have not been funded by internal cash flow, raising concerns about future growth.
Intro
We wrote about Eastman Kodak Company (KODK) back in March of this year when we discussed the ramifications of unlocking the $1+ billion pension fund and how this would affect the share price accordingly. Share-price momentum concerning the potential tapping of the pension fund (announced in late February of this year) accelerated to the upside on that announcement and has been subsequently aided by the company's first-quarter earnings report announced on the 9th of May this year. Suffice it to say, although we rated KODK a 'Hold' back in March of this year, shares have been able to return north of 28% over the past 12+ weeks which is an excellent return considering the S&P has returned just north of 5% over the same timeframe....
Eastman Kodak: Overhead Technical Resistance To Stifle Recent Upward Momentum