Kodak shares rise nearly 1,500% on Covid drug loan deal.

$柯達 (KODK.US)$ shares have surged 1,481% this week in heavy trading as the Trump administration offered the former photography industry leader a financial lifeline to make ingredients in drugs used to fight coronavirus.

The company’s valuation jumped from $92m to $1.5bn as it shares rose from $2.10 at Friday’s close to $33.20 on Wednesday.

The pandemic, of course, has played a role printing sales declines. But pivoting to new business lines, especially those backed (and backstopped?) by the U.S. government could be both lifeline and rejuvenator.