On September, 26 the shares of Eastman Kodak closed the American session with a plunge by 27% - near 1.74 U.S. dollars per share. Reuters informs that it was the strongest drop of Kodak quoting rates in 38 years. Thus, the Financial Times points out that since the beginning of this year the shares of this company have lost 70% of its initial price.
The current decline of Kodak is triggered by the company’s announcement about that it is inclined to involve borrowed funds in the amount of 160 million USD, explaining that it will be spent on general corporate needs.
To compare, in 1997 the papers of Kodak cost 90 USD per share, though they have been sliding ever since. Starting from 2007, the company with the capitalization at around USD 468 million, has gained no profit.
Kodak was established in 1892. In 2010, the net loss of the company amounted to 687 million U.S. dollars.