Kodak shares jump more than 300% amid a strong buying spree after a US loan.

Shares of Eastman Kodak jumped more than 300 percent on Wednesday, amid a strong buying surge from retail traders across the Robinhood Markets platform, a day after the US government said the company would receive a $ 765 million loan to produce ingredients for pharmaceuticals.

More than 78,500 users of the popular Robinhood trading application bought Kodak shares on Wednesday, according to the Rubentrack dot net website, which uses Robin Hood data.

Kodak shares, known for their cameras and photographic equipment, closed at $ 33.20, while at the close two days ago it recorded only $ 2.62.

US stocks keeps their gains on Wednesday after the Federal Reserve reiterated its pledge to use all tools available to it to support the economy, which it said had its prospects “will largely depend on the path of the virus.”

At the end of its two-day monetary policy committee meeting, the Fed said it would keep the target range for interest rates unchanged until it had confidence that the economy had passed the Coronavirus pandemic and was on a path toward achieving its employment and price stability goals.

The Dow Jones industrial average ended the trading session on the Wall Street, up 160.29 points, or 0.61 percent, to 26539.57 points, while the Standard & Poor’s 500 Index climbed 40.00 points, or 1.24 percent, to close at 3,258.44 points.

The Nasdaq Composite Index closed up 140.85 points, or 1.35 percent, to 10,542.94 points.

The three main indices were already high ahead of comments released by the Reserve Board, with investors expecting positive earnings reports to be announced on Thursday by major technology companies such as Amazon.com, Facebook, Apple and Alphabet.