Why Eastman Kodak Stock Plunged Today

Shares of Eastman Kodak (NYSE: KODK) plunged by as much as 11% today after the company reported full-year 2020 earnings results. Eastman Kodak also filed a mixed shelf registration that will allow it to sell securities, while also filing a separate shelf registration that will allow existing shareholders to unload up to 44.5 million shares over time. The industrials company finished the year with $196 million in cash, but recently announced that it had secured access to additional capital to bolster its liquidity position.