KODK - Why Eastman Kodak Stock Jumped 10.3% This Week
Shares of Eastman Kodak (NYSE: KODK) rose 10.3% this week, according to data from S&P Global Market Intelligence . The imaging equipment and services company closed at $4.29 last Friday, then opened on Monday at $4.27, before rising to a high of $4.9250 on Wednesday. The stock's 52-week low is $3.45 with a high of $11.26. The stock is down more than 49% over the past year and flat since the start of 2022.
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With the industrial stock languishing, it didn't take a lot of good news to give it a boost. On Wednesday, the company announced that it had finished the installation of its first Kodak Magnus Q4800 Platesetter in Germany. The machine, used for digital offset printing, is 62 feet long and 11.5 feet wide, making it the largest computer-to-plate (CTP) imaging system in the world. The advantage of CTP systems as opposed to the more traditional computer-to-film printers is that the technology takes out the darkroom step, making the process cheaper and faster.
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Why Eastman Kodak Stock Jumped 10.3% This Week