The Wall Street Journal writes this on the basis of insiders.
26 percent before the news
On the day of publication, on July 28, the stock price rose by an incredible 350 percent and a day later the price was even a staggering 2190 percent in the plus. So that’s almost twenty-fourfold.
It is striking, however, that before the news became known, the price already rose by 26 percent. That is also exceptional on a normal day.
The SEC takes action after Senator Elizabeth Warren called in a letter to investigate whether this is insider dealing.
“This is the most recent example of unusual trade involving an important decision of the Trump administration,” she wrote.
Information known earlier?
Some insiders know about price-sensitive information, news that can influence the share price, rather than others. If you use that knowledge to trade, then it is insider trading and it is a criminal offense.
According to Warren, the price increase may have been caused by information about the loan being known early. The Wall Street Journal reported on July 29 that stories and tweets from TV stations in the city of Rochester, where Kodak is based, may have alerted traders to the news.