Kodak stock spikes up in active afternoon trading, while no news has been released

Shares of Eastman Kodak Co.
KODK,
+16.31%
spiked higher in active afternoon trading Wednesday, enough to trigger a brief volatility pause. Trading volume swelled to 37.7 million shares, compared with the full-day average of about 7.1 million shares over the past 30 days. The print and materials and chemicals company’s stock shot higher just after 2 p.m., rising from a price of around $9.83 (up 4.1%) to an intraday high of $13.80 (up 46.2%), before paring some gains to be up 19.6% at $11.29 in recent trading. The stock was halted for volatility from 2:14 p.m. to 2:19 p.m. There has no news released on Wednesday; the last release on the company’s website was from Jan. 27, when the company said it was a winner of a 2020 Technology & Engineering Emmy Award. Based on latest available exchange data the stock has short interest of 11.1 million shares, or 19.6% of the public float. The stock has now run up 58.2% over the past three months, while the S&P 500
SPX,
+0.10%
has gained 13.9%. The stock had rocketed last July after Kodak received a government load to start a business making pharmaceutical ingredients, the fell in August after the SEC launched a probe into the trading of the stock surrounding the government loan. The stock then rallied in early December after federal regulators found no wrongdoing.