Investing

Here’s How Much Investing $1,000 In The 2013 Kodak IPO Would Be Worth Today

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&amp;P 500’s (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some big-name stocks did much better than others along the way.” data-reactid=”19″>Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500’s (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some big-name stocks did much better than others along the way.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Kodak’s Difficult Decade: One underperformer of the last decade was former camera giant Eastman Kodak Company (NYSE: KODK).” data-reactid=”20″>Kodak’s Difficult Decade: One underperformer of the last decade was former camera giant Eastman Kodak Company (NYSE: KODK).

Kodak’s decade was defined by a bankruptcy and two major strategic pivots away from its legacy camera business.

Extreme cash burn and a secular decline in Kodak’s camera and inkjet printing businesses triggered a Chapter 11 bankruptcy in January 2012. The bankruptcy completely wiped out legacy shareholders, and Kodak’s peak market cap of around $30 billion went down to $0.

Kodak re-emerged from bankruptcy and relisted shares in November 2013 starting at $26.50 per share. Kodak’s updated business model included segments Digital Printing & Enterprise and Graphics, Entertainment & Commercial Films.

When the restructured company continued to struggle to gain traction, Kodak made a seemingly desperate move by pivoting to blockchain technology in January 2018 near the peak of the bitcoin bubble. After reporting declining revenues and a $111 million net loss in the first quarter of 2020, Kodak once again pivoted to producing generic drug ingredients in July, announcing a brand new $765 million loan from the U.S. government.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="After opening at $26.50 post-bankruptcy in late 2013, Kodak shares peaked at $37.73 in early 2014 before resuming the steady march downward that long-time investors had endured since the 1990s.” data-reactid=”29″>After opening at $26.50 post-bankruptcy in late 2013, Kodak shares peaked at $37.73 in early 2014 before resuming the steady march downward that long-time investors had endured since the 1990s.

Kodak shares dropped as low as $2.95 in late 2017 before the blockchain pivot sent the stock skyrocketing as high as $13.27 in January, 2018. By late 2018, Kodak was making new lows again.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="2020 And Beyond: After hitting an all-time low of $1.50 in March 2020, Kodak shares skyrocketed to new all-time highs on the drug news just four months later. Kodak shares peaked at $60 in the days following the announcement before pulling back to around $36.” data-reactid=”31″>2020 And Beyond: After hitting an all-time low of $1.50 in March 2020, Kodak shares skyrocketed to new all-time highs on the drug news just four months later. Kodak shares peaked at $60 in the days following the announcement before pulling back to around $36.

Even after the massive 2020 run, Kodak shares have significantly lagged the S&P 500 since it emerged from bankruptcy in 2013. In fact, $1,000 worth of Kodak stock in 2013 would be worth about $1,384 today.

At the same time, $1,000 worth of legacy Kodak stock purchased in 2010 would now be worth $0 due to the bankruptcy.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related Links:” data-reactid=”34″>Related Links:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here’s How Much Investing ,000 In Nokia Stock Back In 2010 Would Be Worth Today ” data-reactid=”35″>Here’s How Much Investing ,000 In Nokia Stock Back In 2010 Would Be Worth Today

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here’s How Much Investing ,000 In Pfizer Stock Back In 2010 Would Be Worth Today” data-reactid=”36″>Here’s How Much Investing ,000 In Pfizer Stock Back In 2010 Would Be Worth Today

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”37″>See more from Benzinga

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”42″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

This article was originally published on Yahoo Finance

Products You May Like

Articles You May Like

Detroit museum renowned for investing in Black art. Staff says it’s all show.
Opening Bell: Futures, Stocks Mixed On Stimulus Gridlock, Sino-U.S. Tensions
West Hartford Business Buzz: August 10, 2020 – We-Ha | West Hartford News
RBA holds rates: Aus shares close 1.9% higher
5 Reasons to Consider Investing in Europe and Japan | ThinkAdvisor

Leave a Reply

Your email address will not be published. Required fields are marked *