Why Kodak's Stock Is Trading Lower Today

Eastman Kodak Company KODK shares are trading lower on profit-taking after the stock rallied earlier this week following news the company received a government loan to manufacture drugs to treat a variety of conditions.

Over the past three trading sessions, the stock has rallied more than 1,100%. During this stretch, the company set a new 52-week high of $60, which was a 2,190% increase from the close on Monday.

Eastman Kodak provides hardware, software, consumables, and services to customers in the graphic arts, commercial print, publishing, electronic displays, entertainment and commercial films, and consumer products markets worldwide.

Kodak's stock was trading down 28.60% at $21.30 per share at the time of publication. The company has a 52-week high of $60 and has a 52-week low of $1.50.