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Shares of Kodak have now been halted three times, at roughly +20%, +40% and +60%, all in the span of about 15 minutes. It rose as high as 100%.
The company has quickly become the poster boy for excess speculation, Robinhood trading and Wallstreetbets.
As far as I can see, there is no news on the stock but the original move higher started with no news as well. It was later revealed that insiders had bought and there was a small leak to a newspaper reporter. It quickly turned into a mini-mania as shares rallied to $60 from $2.
Insiders were also selling at the top.
It has since slumped back to $6.68 at the lows today but rallied as high as $13.69. It's now halted again at $12.32 after a quick reversal from the highs.
As the old saying goes, buy the first three volatility halts but sell before the fourth.
Update: Right back down to $9.37 as Fox reports that the SEC insider trading investigation is continuing.
