Shares of Eastman Kodak dropped as much as 32.8 percent Wednesday following a Wall Street Journal story that the company is preparing for a possible bankruptcy filing.
Reports that the iconic 131-year-old company may be filing for Chapter 11 protection had been circulating since late last year. Back in September, Kodak issued a statement saying it had no intention of filing for bankruptcy.
Despite the denial, shares of EK lost nearly 88 percent of their value in 2011, closing at $0.6495 on Dec. 30. The one-time Dow component was recently informed by the NYSE that its stock will be delisted if the price remained below $1 for the next six months.
The struggle to switch to digital cameras and turn a profit since 2007 pushed the company's market capitalization to $130 million, a 99 percent loss from its $31 billion valuation back in February 1997, when Kodak shares reached a record high of $94.75.
Below is a look at five companies with assets under $500 million and stock losses greater than 50 percent in the past 12 months.