It’s a Kodak moment for investor insanity on Wall Street — and the enormous run-up in Eastman Kodak’s stock is yet another example of the current market frothiness.

Shares of Kodak (KODK) are still up about 530% in the past five days — even after big slides at the end of last week and a drop of more than 20% Monday — following the news that the government will loan it $765 million to help produce drugs as part of a new pharmaceutical unit.
But Kodak won’t suddenly become the next Pfizer (PFE) or Merck (MRK) through this investment. While Kodak has experience producing chemicals for the film business, there is no guarantee that the company can easily morph into the decidedly different business of making pharmaceuticals.

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https://edition.cnn.com/2020/08/03/investing/kodak-stock-market-mania-bubble/index.html