Stop wasting your money on KODK
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| | | | | | | Lance Ippolito | Lance is a professional trader and a successful entrepreneur with over 10 years of experience in the financial markets. | | | | | | The Worst Stock to
Buy in 2020 | | | | | Traders, todayI'm calling BS on Eastman Kodak Co. (NYSE: KODK).
I'm not even going to go into the CEO's announcement in The Wall Street Journal to push forward in making ingredients for generic drugs, with or without a $765 million government loan deal (to each their own I suppose).
On Monday, Kodak CEO Jim Continenza tweeted he'd be live on The Wall Street Journal's Tech Live to discuss the future of Kodak.
After the CEO's tweet, the stock rallied about 50 cents higher on that news alone.
This goes to show you exactly what kind of market we're in nowadays — all a public company has to do to get their stock to pop higher is tweet out when their next public appearance is.
But I justcan't seem to buy into what Kodak's trying to sell me: All I'm seeing is junk and the possibility that the company could have given insiders and its board members "spring-loaded" options before the $765 million U.S. pharmaceutical deal with the company was even announced.
The company's slogan may be "You Press the Button, We Do the Rest," but I won't be pressing this stock's button anytime soon.
In fact, I'd say Kodak looks like it's following a similar path that we witnessed with Hertz Global Holdings Inc (NYSE: HTZ) during its downfall… | | | | |  | When Is the Right Time to
Take Profits??
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