According to WSJ, Kodak is weighing a bankruptcy filing.
Its stock is down 26% 50% 60%
Jones Day has reportedly been hired for a possible restructuring.Like many companies, it had hoped to cash in on its patent portfolio — and indeed Google is reportedly considering an offer — but the cash won’t be enough it sounds like to get it through.
Presumably the demise of Kodak needs no explanation. The picture in this post basically explains it.
Bear in mind that the market has basically been expecting its demise for a while. The stock closed yesterday at $1.69/share.