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Stock Alert: Eastman Kodak Plunges 30% As $765 Mln Loan Is On Hold

Shares of Eastman Kodak Company (KODK) are down more than 30% Monday morning on the news of U.S. International Development Finance Corp. is halting a $765 million loan to the company to enter into generic drug manufacturing on allegations of insider trading.

"Recent allegations of wrongdoing raise serious concerns. We will not proceed any further unless these allegations are cleared," tweeted the U.S. International Development Finance Corporation on Friday.

Eastman Kodak stock is currently trading at at $10.31. It has traded in the range of $1.50- $60 in the last 52 weeks.

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