Sahm Adrangi is one of the keenest investment managers you have ever met. Sahm is passionate about his work and this value has made him a successful man. Sahm’s career is also about activism. He calls out any company that has ill motives towards stakeholders. He also identifies frauds and shames them publicly.
Recently, Kerrisdale Capital gave a report of Eastman Kodak Company. This company has a project that seems viable but it is completely a sham. Anyone who believes it and invests may end up incurring losses. Kodak is cunning because it has described this plan in details and it is very convincing.
Since Kodak introduced cryptocurrency and blockchain technology, the company has risen by 187%. By evaluating the entire scenario, Sahm Adrangi and his firm are convinced that Kodak is using this strategy to offset financial burden. Despite the promising decoy, it will not end well eventually.
The nature of this company is printing and imaging commercially. The abrupt increase in shares is more of a scene in the movies than a realistic outcome. The background of this company shows it had been underperforming for a while. Suddenly, it is able to get a license for a blockchain brand. Not long after that it has managed to attain over 300 million dollars.
Sahm Adrangi also can’t help noticing how board members purchasing shares a day before announcing. It looks like a scheme that has wrong intentions. According to Kerrisdale Capital, Kodak is not a company that can benefit from the blockchain technology. If it can, not the way it has been applied right now. Go To This Page for additional information.
The introduction of a cryptocurrency is redundant for the company. No photographer would choose digital currency over cash. Another objective of Kodak is using this technology to address infringement of copyrights. In particular, Kodak will use smart contracts. Unfortunately, cryptographical images do not come with intellectual rights.
Sahm Adrangi is sure that the tem supporting this technology is not known in the circles of blockchain experts. These and other reasons made Sahm Adrangi and his company to question the capability of Kodak. They should use real ways of resolving their financial difficulties.