Kodak Stock Down to $5.45

[RattyMouse]

Kodak just jumped from $3.10 to $4.55. Anyone know if there was an announcement?

https://www.cnbc.com/2018/01/09/kod...line|story&par=yahoo&doc=104936426&yptr=yahoo
https://www.cnbc.com/2018/01/09/kod...line|story&par=yahoo&doc=104936426&yptr=yahoo
The story looks ridiculous but we'll see. Anything block chain related gets a huge stock boost, but will it last? That's the key.

 

[Sirius Glass]

Maybe it was the announcement that they are bring back wet plate film.

 

[faberryman]

Seriously? Kodacoin?

 

[RattyMouse]

Fixed

If you say so.

 

[RattyMouse]

Maybe it was the announcement that they are bring back wet plate film.

 

[RattyMouse]

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]

Kodak normally trades about 175,000 shares per day. Today it's at 4.24 million and it's only just past lunch time!!

 

[RattyMouse]

I bought two shares of Kodak @ $4.25. Come on Kodak, make me rich!

 

[faberryman]

I bought two shares of Kodak @ $4.25. Come on Kodak, make me rich!

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.?

 

[skorpiius]

How is Kodacoin going to generate income for Kodak? Is this like the banks playing the derivatives market in the 1990s?

I haven't read the article but damn that seems like some kind of 'hail Mary' move.

 

[mshchem]

Kodak just jumped from $3.10 to $4.55. Anyone know if there was an announcement?

It's happening !

 

[mshchem]

No it's not happening . Act of desperation .

 

[RattyMouse]

I haven't read the article but damn that seems like some kind of 'hail Mary' move.

I called it that already. See post #282.

 

[RattyMouse]

No it's not happening . Act of desperation .

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]

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.

 

[RattyMouse]

LOL.....Kodak is +98% in today's trading so far!

 

[faberryman]

"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.

 

[Jon Buffington]

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]

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.

 

[skorpiius]

I called it that already. See post #282.

Woops, so you did!, and I agree.

 

[Sirius Glass]

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.

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

 

[Prof_Pixel]

At market close today it's up to $6.80 per share!

 

[RattyMouse]

At market close today it's up to $6.80 per share!

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]

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.

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.

 

[mshchem]

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