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New York, NY - Eastman Kodak Shares Lowest Since Depression

Published on: October 2, 2011 12:15 AM
By: AP
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New York, NY - A Kodak share is now worth less than a can of soda.

A report that the company has hired lawyers for restructuring advice halved the stock’s value today, extending this week’s decline to 67%.

Shareholders are not buying CEO Antonio Perez’s turnaround talk or promises about Kodak’s future strength as a printing company.

They apparently took little comfort in the $3B valuation some analysts pegged on patents Kodak is hocking.

Shares closed at 78 cents, the lowest since June 1935 on a split-adjusted basis, according to Global Financial Data.



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Read Comments (4)  —  Post Yours »

1

 Oct 02, 2011 at 09:54 AM Geulah Says:

They missed the digitalization movement. The Wall Street protesters don't get up and decry the modernization that has bypassed these job producing companies. Kodak didn't want to share with Polaroid and now they're both museum relics.

2

 Oct 02, 2011 at 11:18 AM cynic Says:

Kodak has been trying to "go digital", but there's only so much there, there. In fact, Kodak was one of the first providers of digital cameras, and for the first couple of years was widely used by news photographers.
Unfortunately for them, there's no recurring income stream from "film" the way there is with older cameras. And there's a very heavy amount of competition, which smashes prices and profits, for both digital cameras and for printing.
- Good for the consumer, bad for Kodak

3

 Oct 02, 2011 at 05:07 PM HaNavon Says:

Don't worry, all of the stocks will soon catch up to the lowest levels. We're absolutely headed for the Great Depression 2.0

4

 Oct 02, 2011 at 09:05 PM HaNavon Says:

Don't worry, all of the stocks will soon catch up to the lowest levels. We're absolutely headed for the Great Depression 2.0

5

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