Kodak Company recently announced that its stocks have risen by 187%. This development was after introducing blockchain technology and cryptocurrency in their business. Currently, Kodak has a digital currency called KodakOne. This company is a printing and imaging company that has been operational for the past one hundred and thirty-eight years old. Learn more about Sahm Adrangi at Businessinsider.com.
Sahm Adrangi and his firm decided to conduct an analysis of this sudden occurrence. He was not very confident because the deal seemed too good, especially happening within such a short time. According to Sahm and his team, their conclusion was Kodak was trying to offset some financial difficulties. By announcing such a major opportunity to investors, they would be quick to buy shares and Kodak will resolve its financial problems.
Sahm Adrangi is a financial analyst and advisor. He is also like an activist who calls out companies with malpractices in their financial aspects. Sahm Adrangi does this to protect business people and investors from making mistakes with such companies. This is why Kodak got Sahm’s attention and was put under scrutiny.
Before the announcement of this ‘breakthrough’ Kodak was underperforming. In no time, it managed to get a license for a blockchain brand. Immediately, Kodak has increased its value to three hundred million dollars. In addition to these anomalies, the board members gave themselves shares one day before going public.
After Kerrisdale evaluated the situation at Kodak they identified a few things. Introducing blockchain and cryptocurrency will not help the company. While these technologies are affecting companies positively, an imaging company will not benefit. Photographers would prefer to be paid cash as opposed to digital money.
Kodak believes it will resolve copyright infringement using blockchain. Unfortunately, these images will still have no rights as intellectual property. Blockchain does not give an easy way out when it comes to acquiring copyrights. Looking at the experts behind blockchain technology in Kodak, they are not known.
It questions their credibility and capability of seeing this project through. Sahm Adrangi understands Kodak wants to grow and start performing. This objective will not be achieved by using questionable techniques that look deceptive. They need real practical strategies to break even. Read more about Sahm Adrangi at Institutional Investor.