Sahm Adrangi ; Blowing the Whistle on KODAK
Eastman Kodak Company is an important commercial print as well as imaging firm whose stocks shot to $37.73 five years ago (2013). Perhaps that was the best the company has ever achieved regarding success. From that moment on, there has been a gradual slide down of the stocks. In 2017, KODAK’s shares dropped to $3. Recently, the company announced its progress; it seems like they found a way out of the slide. That is why in early 2018, they issued a press conference stating that they will be delving into the blockchain and cryptocurrency industry based on blockchain-based image platforms.
In January 2018, KODAK joined WENN Digital in announcing a merger that would produce KODAKOne and KODAKCoin. Well, apparently, the partnership moved the stocks of the company to 400 percent. This transition shocked many investors, but it did not take long before the celebrations were over. Shockingly, the stocks dropped to $5.85 from the initial $13.28.
Sahm Adrangi Disintegrates Business
After a keen observation of the trajectory of the stock downfall, Sahm Adrangi of Kerrisdale Capital issued a report to disintegrate the facts on impossibilities. He stated that KODAK’s case was not viable as no business would achieve that in such a short time given the atrocities from the past stocks reports. Moreover, the management of KODAKCoin is not credible and cannot be trusted to conduct business transparently. Even better, Kerrisdale Capital went ahead to investigate the same issue. Alongside a negated report issued through a press conference, it was clear that KODAK Company delved into the rush for crypto to deceive investors.
Disintegrating the Report
In the case of the escalating stocks at KODAK, it is factual that blockchains and cryptocurrencies are relatively promising technologies that can disrupt the economy. But KODAK’s stocks could not have shot up so fast and dwindled even quicker with the same investment. As such, investors should be wary as blockchains cannot improve imaging.
Mr. Sahm Adrangi first made it to the public eyes when he blew the whistle on Chinese companies that conducted illegal businesses. Currently working as the head cheerleader of Kerrisdale Capital, he issues reports highlighting the possibilities of business being on the right side of the law or even being viable for investors.