“The actual business burns money.”
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 7 December 2020
⏱️ 20 minutes
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Summary
Shares of Eastman Kodak soar more than 50% on Monday. Jim Gillies analyzes why the former film giant might have a promising future but the present is not attractive for investors. Plus, we get ready for Airbnb’s IPO on Thursday and take a closer look at Twist Bioscience’s secondary offering.
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Transcript
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| 0:00.0 | It's Monday, December 7th. |
| 0:04.0 | Welcome to Market Foolery. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:07.0 | From the Great White North, it's Jim Gillies. |
| 0:09.0 | Good to see you, my friend. |
| 0:10.0 | Good to be seeing Chris. How are you? |
| 0:12.0 | Doing well. We're going to talk secondary offerings. |
| 0:15.0 | We've got an initial public offering to discuss. |
| 0:18.0 | But we're going to start today with Eastman Kodak. |
| 0:20.0 | And I think for at least some of our dozens of listeners it's worth pointing out that |
| 0:24.8 | Eastman Kodak is the company that for decades was the go-to name in film, the |
| 0:32.0 | actual film that you would put in a camera to take photographs. |
| 0:35.0 | Back in July, shares of Kodak went from $2 to $20 in the blink of an eye because Kodak got a U government loan of more than 750 million dollars to help |
| 0:46.6 | produce pharmaceutical ingredients. |
| 0:49.9 | It has come back down from that, but shares of Kodak up more than 50% this morning, because |
| 0:55.1 | US regulators were looking into the announcement, the timing of the announcement to see if there |
| 1:00.5 | was anything improper, and looks like they got cleared from US regulators and |
| 1:05.4 | so the stock is up. |
| 1:07.0 | Yeah and Chris you know what it's actually even worse than you said because there there was a quick spike in early August or late July I believe |
| 1:16.8 | up to it it closed at $33 from as you said two bucks there was a transaction |
| 1:21.7 | on that date that went through at 60, $6.00. Good on the person who was selling it, the inter-day |
| 1:29.7 | high at $60, good on the person who was selling it, not so great for the person who bought it. |
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