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Home | Kodak shares plunge on bankruptcy report |
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Kodak shares plunge on bankruptcy report
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- January 04, 2012
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Shares of Kodak dropped sharply Wednesday following a report that the company was preparing for a possible bankruptcy filing. Kodak shares, which have already dropped 92% over the past year, were down 27% Wednesday afternoon after the Wall Street Journal reported that the company could file for bankruptcy if fails to sell a number of digital patents fail. The news came a day after Kodak disclosed that the New York Stock Exchange warned that it could be delisted in six months if its struggling stock price does not recover. The warning was triggered by the fact that the stock's average closing price has been less than $1 per share for thirty consecutive trading days. Kodak did not immediately respond to requests for comment.
- Read more at:http://rss.cnn.com/~r/rss/money_topstories/~3/zorwIzkkJL4/index.htm
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