Its legacy spans 13 decades, and boasts many American firsts, but Eastman Kodak (EK.N), best known for cameras and photography, maybe running out of options and time. Concerns about the company's future boiled over on Friday, after it hired a law firm well-known for bankruptcy cases, sending its shares down 54 percent to 78 cents per share. Although Kodak said it has "no intention" of filing for bankruptcy, the fact that its shares closed under $1, and market capitalization shrank to less than $300 million suggests that even the most die-hard investors may have lost faith. The picture began to fade in September 2003. Film sales were dying, and Kodak slashed its dividend by 70 percent, hoping to gain flexibility as it beefed up spending on commercial and inkjet printers, medical imaging devices and other digital systems. It stopped investing in traditional consumer film.
Eastman Kodak Company (Kodak) is engaged in the sale of imaging products, technology, solutions and services to consumers, businesses and professionals. Shares of EK fell by 53.84% or $-0.9099/share to $0.78. In the past year, the shares have traded as low as $0.54 and as high as $5.95. On average, 15626700 shares of EK exchange hands on a given day and today's volume is recorded at 65734384.
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