New York (CNN Business) Kodak stock plunged 30% Monday after a $765 million loan from the US government to help make drug ingredients was put on hold, as regulators are reportedly looking into allegations of insider trading. The stock was temporarily halted after plunging as much as 43% earlier in the day. "Recent allegations of wrongdoing raise serious concerns," the US International Development Finance Corporation said in a tweet Friday afternoon. The DFC's announcement came a few days after questions arose about heavy trading volume for Kodak's stock, which soared as much as 2,757% following the initial July 29 announcement. Kodak executives including CEO Jim Continenza are also facing criticism for receiving stock options on July 27, a day before the loan announcement.

Source: CNN August 10, 2020 13:18 UTC