Eastman Kodak (NYSE:KODK) is seeing a jump in its stock on Wednesday despite a lack of news concerning the company.
Here’s what potential investors in KODK stock need to know as shares continue to climb this morning.
- The jump in price for KODK stock is the result of it being targeted by the Reddit WallStreetBets community.
- This is a collection of investors on social media that are targeting stocks together to increase the price.
- These investors often go after stocks that are the targets of short-sellers.
- As of this writing, some 9 million shares of KODK stock have changed hands.
- That’s quite the jump considering its daily average trading volume is roughly 8 million shares.
- This has seen the targeting several companies that have seen a massive growth of late.
- That includes GameStop (NYSE:GME), which has been rising higher these last few days.
- Another of r/WallStreetBets’ recent targets was AMC Entertainment (NYSE:AMC).
- It started seeing major movement last night and is rocketing higher in early hours trading this morning.
- What this shows is that WSB is far from done with plans to boost up stocks.
- It’s likely that investors will continue to see positive movement in surprising stocks in the near future as these activities continue.
KODK stock was up 16.2% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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