Kodak Stock Down to $5.45

[pentaxuser]

Remember, photography isn't art. I wouldn't expect any help from wealthy art patrons.

No but given Kodak's status as an American icon and the apparent revival of film you might get a sympathetic ear from someone who has an "eye for the main chance" as they say in terms of acting as a saviour of "Things American"

This might especially be the case if there was a hint of Kodak going under and said person needed a boost to his reputation

pentaxuser

 

[RattyMouse]

No but given Kodak's status as an American icon and the apparent revival of film you might get a sympathetic ear from someone who has an "eye for the main chance" as they say in terms of acting as a saviour of "Things American"

This might especially be the case if there was a hint of Kodak going under and said person needed a boost to his reputation

pentaxuser

It has been a loooong time since Kodak was an American icon. I ask the younger kids (22-28 years old) here in the lab where I work what they think of Kodak and they either dont know what Kodak is or think Kodak is synonymous with corporate failure.

Each year more and more people will be like that and not even know what Kodak once was.

 

[DREW WILEY]

There are plenty of people in Tech and Hollywood circles rich enough to buy Kodak with pocket change and keep film mfg going. But it would require someone who recognizes the special esthetic potential of the medium as an endangered species. Digital just ain't the same thing.

 

[RattyMouse]

There are plenty of people in Tech and Hollywood circles rich enough to buy Kodak with pocket change and keep film mfg going. But it would require someone who recognizes the special esthetic potential of the medium as an endangered species. Digital just ain't the same thing.

Hollywood has to be the biggest supporter of film today. Plenty of directors have banded together to keep film in movies, trying to fight off the digital tide. But I dont think that they have the kind of money to keep Kodak going.

Today's another bloodbath for Kodak in the stock market....-3.3% today with 30 minutes left in the session. Just 18 cents left to fall before the very significant $5/share threshold is hit.

 

[mshchem]

I just finished watching Stranger Things 2. There's Kodak all over the place . 1984, the kids are in AV club, in the background all kinds of Carousel trays, projectors. Instamatic X cameras, Pentax K1000. People talking on corded phones. The Drug store offered 24 hour processing . I'm going back!

 

[RattyMouse]

The bloodbath continues as Kodak shares are being hammered hard again today (-2.2% ATM), now standing right at the very precipice of the critical $5/share price. If it drops below this today, whatever institutional holders of this stock there are will start selling hard so it could go even further south even faster.

 

[Sirius Glass]

The bloodbath continues as Kodak shares are being hammered hard again today (-2.2% ATM), now standing right at the very precipice of the critical $5/share price. If it drops below this today, whatever institutional holders of this stock there are will start selling hard so it could go even further south even faster.

Every day the stock goes down my decision to sell it off when I did looks better. Too bad I did not sell it off sooner. In the other hand I had made a lot more than my loses on the run up of other stock the last few years.

 

[RattyMouse]

Every day the stock goes down my decision to sell it off when I did looks better. Too bad I did not sell it off sooner. In the other hand I had made a lot more than my loses on the run up of other stock the last few years.

I was not following Kodak stock until this thread was started. Since then, I've read up a bit on how investors view this company and the results are not good. Not good at all. I always thought that once Kodak emerged from bankruptcy that it was on a financially stable footing. It turns out that is not the case and Kodak has not reached that stage yet. Most of their business is stagnant at best and diminishing in many cases. Only a small part is growing and the result of this is a big burn through of cash. Investors are now selling off Kodak hard (down almost 30% in just a month!) because of strong fears of a return to bankruptcy if the cash burn does not end.

 

[mshchem]

Here's a good one. I bought 500 shares of Kodak on Wednesday, at the same time I placed a stop loss order to sell. I figured I would have a few days. Well it opened this morning so low my stop loss order was executed. 200 bucks poof . It would be funny if it wasn't Kodak. This is serious stuff. I'm sick of worrying about losing these precious technologies. This is a big deal. Screw bailing out banks, we already lost Polaroid.
Best Regards Mike

 

[DREW WILEY]

Invest in selfie sticks. Their value actually increases when they're repurposed for tomato vine stakes.

 

[chriscrawfordphoto]

Remember, photography isn't art. I wouldn't expect any help from wealthy art patrons.

Are you serious? Photography has been recognized as art for a century now. Every major art museum has a photography collection. As for wealthy patrons, I have a couple who have helped me financially in a big way because they liked my photography.

 

[btaylor]

chriscrawfordphoto, that's great! Are they wealthy enough to buy Kodak? Would they want to? Of course I personally believe photography can be art, but from what I see the really big money is still in painting and to a degree sculpture. Sotheby's doesn't support themselves selling photographs. Just sayin'

 

[RattyMouse]

Here's a good one. I bought 500 shares of Kodak on Wednesday, at the same time I placed a stop loss order to sell. I figured I would have a few days. Well it opened this morning so low my stop loss order was executed. 200 bucks poof . It would be funny if it wasn't Kodak. This is serious stuff. I'm sick of worrying about losing these precious technologies. This is a big deal. Screw bailing out banks, we already lost Polaroid.
Best Regards Mike

I'm sorry but buying that many shares of Kodak was an extremely frivolous purchase. Why would you invest in a company whose stock has declined almost 30% in just the past month??? Kodak is in very serious financial trouble and it was an investment that exposed you to a huge amount of risk. Do you see how many shares trade daily with Kodak? Just 140,000 yesterday. That is an almost incomprehensibly tiny number. Apple probably trades 144,000 shares every 15 seconds. Kodak does that in a full day. That is a very very low level of liquidity; another indicator of how Kodak is in bad shape.

Just for fun I bought 2 shares of Kodak when this thread first popped up. I trade for free so it was a tiny purchase. The shares promptly fell and I sold them after losing all of 44 cents.

For a few days, I as an owner of Kodak!!!

 

[mshchem]

I'm sorry but buying that many shares of Kodak was an extremely frivolous purchase. Why would you invest in a company whose stock has declined almost 30% in just the past month??? Kodak is in very serious financial trouble and it was an investment that exposed you to a huge amount of risk. Do you see how many shares trade daily with Kodak? Just 140,000 yesterday. That is an almost incomprehensibly tiny number. Apple probably trades 144,000 shares every 15 seconds. Kodak does that in a full day. That is a very very low level of liquidity; another indicator of how Kodak is in bad shape.

Just for fun I bought 2 shares of Kodak when this thread first popped up. I trade for free so it was a tiny purchase. The shares promptly fell and I sold them after losing all of 44 cents.

For a few days, I as an owner of Kodak!!!

I'm a high Roller!

 

[Sirius Glass]

On the other hand, my Raytheon stock, RTN, has gone from $132.91 to $190.25 since the first of the year and my Northrup Grumman stock, NOC has gone from $220.72 to $306.61 since the first of the year. Retirement just keeps looking better.

 

[mshchem]

On the other hand, my Raytheon stock, RTN, has gone from $132.91 to $190.25 since the first of the year and my Northrup Grumman stock, NOC has gone from $220.72 to $306.61 since the first of the year. Retirement just keeps looking better.

Ah Raytheon, I worked for them for about 5 years. Not the real rocket science divisions, Amana Radarange microwave ovens and refrigerators here in Iowa . We made an industrial microwave that was 40 feet long. Something like 40 kw.
I made a killing on Boeing, Caterpillar etc. Right now I have a strong cash position, at my age it's not about making more, it's about keeping what you have.
But I digress. What's to become of our beloved Kodak?

 

[mshchem]

More good news, Film division lost 1 million this quarter:
From Yahoo...
Eastman Kodak Company (KODK) today reported financial results for the third quarter 2017, delivering a net loss of $46 million on revenues of $379 million.

 

[Sirius Glass]

Now everyone go out and buy a lot of film!

 

[Prof_Pixel]

More good news, Film division lost 1 million this quarter:
From Yahoo...
Eastman Kodak Company (KODK) today reported financial results for the third quarter 2017, delivering a net loss of $46 million on revenues of $379 million.

See http://www.democratandchronicle.com...-posts-third-quarter-earnings-loss/846271001/

 

[mshchem]

I sure wish there was some way to re-connect Alaris and EK film divisions under a Genius with deep pockets and IDEAS. I just believe there is still a market for consumer "Instamatic" ICONIC analog cameras, Hell while they are at it bring back the flashcube. I don't know what the answer is. Scares me.

 

[Prof_Pixel]

I sure wish there was some way to re-connect Alaris and EK film divisions under a Genius with deep pockets and IDEAS. I just believe there is still a market for consumer "Instamatic" ICONIC analog cameras, Hell while they are at it bring back the flashcube. I don't know what the answer is. Scares me.

As I mentioned in another thread "Maybe Carestream Health would like to pick up the coating operations in Rochester to go along with their coating operation in Windsor, Co. This (I assume) could keep Kodak Alaris in film."

 

[MattKing]

More good news, Film division lost 1 million this quarter:
From Yahoo...
Eastman Kodak Company (KODK) today reported financial results for the third quarter 2017, delivering a net loss of $46 million on revenues of $379 million.

I'm curious where you got the reference to the film division. As far as I can tell, that division is actually the "Consumer and Film" division, which includes the "consumer" products, such as the winding down consumer inkjet business and the Kodak smart phone.

 

[mshchem]

Ye

I'm curious where you got the reference to the film division. As far as I can tell, that division is actually the "Consumer and Film" division, which includes the "consumer" products, such as the winding down consumer inkjet business and the Kodak smart phone.

Yes, Consumer and film. Seems that somehow combining parts of Alaris, EK, maybe Carestream might make one hell of a professional and consumer imaging company. I guess I'm just longing for the good old days. Hopefully it all works out.

 

[SilverShutter]

This is really sad, especially coming from Kodak who in the last few years has really put a lot of care into their product, especially the film division. And even though Alaris is a separate entity at this point they completely depend on Kodak's manufacturing facility for their films, so if Kodak goes, Alaris follows...

 

[RattyMouse]

Yep, the earnings report from Kodak was not good. Not good at all. Last year's tiny profits have turned into losses and a depletion of cash. Total losses for Kodak corporate were 46 million dollars.

For the film division, revenue was flat at 55 million dollars vs the same quarter last year, but YTD revenue compared to prior year is down substantially, 151 million dollars vs 174 million dollars. The consumer and film division reported a 2 million dollars loss for the quarter and a YTD loss of 10 million dollars (prior year was an 18 million dollar profit).

Kodak's CEO: "We are taking immediate actions to accelerate cost reduction and reduce investments to sharpen our focus as we continue to actively pursue changes to the Kodak product and divisional portfolio.”

Kodak announced the loss of 425 jobs yesterday, with 100 of them coming out of Rochester.

The word Ektachrome does not appear anywhere in Kodak's financial release so the resurrection of that film is not mentioned as one of the actions Kodak is taking to improve revenue and profits.

It's just my opinion but I dont think we'll see a new release of this film anytime soon.