(CNN) — The enormous rally in Kodak shares has no end in sight, after the Trump administration announced the company will be transformed into a pharmaceutical producer under the Defense Production Act.
On Tuesday, President Donald Trump announced the company would receive a $765 million loan to launch Kodak Pharmaceuticals, which will produce generic active pharmaceutical ingredients to reduce America’s dependency on foreign drug makers.
The company’s shares have skyrocketed on the news. Following a more than 200% jump in Tuesday trading, the rally continued on Wednesday and the shares ended up 318%.
But the soaring performance wasn’t without hiccups: The New York Stock Exchange halted trading in the shares 20 times throughout Wednesday’s trading session as the stock soared, climbing more than 650% at its highest.