Kodak share price crashes in premarket trade more than 40% after US government loan for $765 million gets put on ice

Reuters / Steve Marcus

• Shares in Eastman Kodak tanked in Monday's premarket trading after the US International Development Corp put its $765 million on hold last week. 
• On July 28, the company announced it was getting a $765 million loan from the DFC to aid it in producing drug ingredients. 
• The news led to its stock to explode by as much as 2,190% the next day. 
• The Securities Exchange Commission announced last week that it was investigating the firm on its extraordinary stock growth and whether any insider trading took place, as shares traded up 26% in pre-market before the announcement was made. 
• Visit Business Insider's homepage for more stories.

Shares of Eastman Kodak faced a bitter sell-off Monday, tanking more than 40% in pre-market trade on reports that its $765 million loan to produce pharmaceutical ingredients has been put on hold. 

Kodak's share price was down 40% at $8.89 as of 7:42 a.m ET. See the rest of the story at Business Insider

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