Kodak Stock Down to $5.45

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format

Sirius Glass

Subscriber
Joined
Jan 18, 2007
Messages
50,216
Location
Southern California
Format
Multi Format
Maybe it was the announcement that they are bring back wet plate film.
 

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format
This stock price jump has nothing to do with film, not has it anything to do with something tangible today. It's a hail mary from Kodak trying to invent a new cryptocurrency that somehow will be used within the photographic industry. I'm not sure that is what photographers today are asking for.
 

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format
Kodak normally trades about 175,000 shares per day. Today it's at 4.24 million and it's only just past lunch time!!
 

faberryman

Member
Joined
Jun 4, 2016
Messages
6,048
Location
Wherever
Format
Multi Format
RattyMouse said:
I bought two shares of Kodak @ $4.25. Come on Kodak, make me rich!
Click to expand...
How is Kodacoin going to generate income for Kodak? Is this like the banks playing the derivatives market in the 1990s - making money on speculative securities trading rather than their core business.?
 
Last edited:

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format
mshchem said:
No it's not happening . Act of desperation .
Click to expand...

Yes, this does seem to be an act of total desperation from Kodak. The one saving grace would be if they could get the stock up past $17.50/share. At that level Kodak does not have to pay the preferred stock holders any money when their shares expire. Instead they would just exchange them for common stock. Kodak is a long way from $17.50/share still.
 

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format
UNREAL! I bought 2 shares of Kodak $4.25 and it just hit $5.50. I'm up almost 30% in just an hour!! Wow.....I wish I had the stones to place more on Kodak but that's gambling, not investing.

Geez....It's $5.75 now. Good god.

I sold at $5.80/share......of course now it's at $6.08. Hilarious.
 

faberryman

Member
Joined
Jun 4, 2016
Messages
6,048
Location
Wherever
Format
Multi Format
"Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform. KODAKOne platform provides continual web crawling in order to monitor and protect the IP of the images registered in the KODAKOne system. Where unlicensed usage of images is detected, the KODAKOne platform can efficiently manage the post-licensing process in order to reward photographers."

A photostock agency with payment in crypto currency? I couldn''t find any information on WENN Digital, Kodak's "licensing partner" in the deal.
 
Last edited:

Jon Buffington

Subscriber
Joined
Jun 23, 2014
Messages
684
Location
Tennessee
Format
35mm
I had created a kodakit account several years ago. Nothing came of it. About a month ago I got an email for me to update my account as the platform was changing. Guess this is part of it. Wish them all the best
Wish I was still day trading (not really, HIGH STRESS) as today would be a fun one. Buy and sell or sell short on movement. Catch part of that wave.
 

williaty

Member
Joined
Mar 31, 2016
Messages
179
Location
Licking County, Ohio, USA
Format
Medium Format
This is a bubble and will crash hard. Right now, companies can triple their stock price just by adding the word "Blockchain" to their name. Think I'm joking? The Long Island Iced Tea Company renamed itself "Long Blockchain" and it's stock price tripled over night.

No one on Wall Street understands what the hell "blockchain" is but they've heard it has something to do with Bitcoin. Bitcoin, as you may have heard, has gone from being worth nothing to having a valuation in the billions in the last couple of years. So now anytime Wall Street hears of a company doing something with "blockchain", they act like it's guaranteed that the company will explode like Bitcoin has.

Kodak is just cashing in on the ignorance surrounding the fad. In a month or two, the world will figure out that blockchain is a just a description of some fancy math and it isn't worth anything without a solid business plan behind it and every company that rode the boom up is going to ride the crash back down even farther.
 

Sirius Glass

Subscriber
Joined
Jan 18, 2007
Messages
50,216
Location
Southern California
Format
Multi Format

I found this. https://www.cbsnews.com/news/kodak-creating-its-own-cryptocurrency-kodakcoin/
 

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format
Prof_Pixel said:
At market close today it's up to $6.80 per share!
Click to expand...

Waaay past that now in after hours trading. Over $9.00/share.

I was listening to CNBC during the drive home today and the Kodak story was not covered until 55 minutes past the closing bell. Hard to believe that a company like Kodak is such an afterthought. Imagine if Apple went up 130% in one day. That would be HUGE news. Kodak was barely mentioned. The analysts described the story, about Kodacoin and pretty much laughed the whole thing off. Who are the customers for this? What is the revenue stream going to look like? All kinds of questions that Kodak could have answered upon releasing this news.

One analyst called it, "taking a flyer" on the bitcoin mania.
 

RattyMouse

Member
Joined
Oct 18, 2011
Messages
6,045
Location
Ann Arbor, Mi
Format
Multi Format

Very true. CNBC said that Kodak was "taking a flyer" on the bitcoin mania.

Without a solid business behind this, a large crash is coming. Kodak has not explained how their previously failing business model is somehow changed by them making a new cryptocurrency.
 
OP
OP

mshchem

Subscriber
Joined
Nov 26, 2007
Messages
14,367
Location
Iowa City, Iowa USA
Format
Medium Format
The until now secret project has an internal name "PROJECT KR 135-36" The expected initial offering to be around 64 a share. However analysts believe a more realistic price would be 25 and others as high as 200. Go figure!
Best Mike
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more…