Elizabeth Warren calls for insider-trading investigation after Kodak shares spike 2,190%
Warren called on the agency to probe"several instances of unusual trading activity prior to the announcement of this deal" in adated Monday. The loan, meant to aid Kodak in producing drug ingredients to fight coronavirus, was publicly announced on July 28.
Following the announcement, Kodak stock leaped as much as 350%. Shares soared even higher on July 29, at once point reaching a two-day gain of 2,190%. Yet the stock gained as much as 26% on the day before the announcement, raising questions as to whether insiders traded on information of the government loan."This is just the latest example of unusual trading activity involving a major Trump administration decision," Warren wrote.
The Massachusetts Democrat noted the rally could have originated from the premature publication of the government loan.reported on July 29 that stories and tweets from TV stations in Kodak's hometown of Rochester, NY possibly alerted traders to the news. Kodak's trading volume reached 1.6 million shares by the end of the day, well above the average daily volume of 231,000 over the previous month.
Warren asked the SEC to look into individuals and corporate entities making large trades of Kodak stock before the July 28 announcement, the extent to which such parties were privy to nonpublic information, and whether they shared information on the loan. The agency should also probe whether Kodak complied with relevant disclosure requirements after early reports announced the deal.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Elizabeth Warren Is Still CampaigningThere’s only one person she’s trying to win over, and he’s listening, gdebenedetti writes
続きを読む »
Warren Buffett's Berkshire Hathaway can double its Bank of America stake to almost 25% | Markets InsiderWarren Buffett's Berkshire Hathaway has permission to more than double its Bank of America stake to 24.9%, a spokesperson for the Federal Reserv...
続きを読む »
Warren Buffett's Apple stake has tripled in value to more than $100 billion - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
続きを読む »
Warren Buffett's Berkshire Hathaway can double its Bank of America stake to almost 25% | Markets InsiderWarren Buffett's Berkshire Hathaway has permission to more than double its Bank of America stake to 24.9%, a spokesperson for the Federal Reserv...
続きを読む »
The Global E-Commerce Landscape Report from Insider Intelligence - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
続きを読む »
Business Insider's best investing stories of July 2020 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
続きを読む »