The investment firm, Kerrisdale Capital, recently published a very negative criticism of Eastman Kodak Company. Kodak recently announced a 187% rise in their stock after partnering to launch a blockchain and cryptocurrency enabled platform. Kerrisdale believes Kodak is being misleading about the whole thing simply in order to further and to cash in on the current ICO craze. Kerrisdale is a manager of investment in special situations. It is so adamant on this issue because it will benefit if Eastman Kodak’s share prices fall. If you are interested in investing with Kerrisdale, they are ready to take your call today. Read more about Sahm Adrangi at Benzinga.
Kerrisdale wrote its report which it title, Gone in a Flash. In Kerrisdale said that although cryptocurrencies and blockchains are able to profoundly benefit many companies, Kodak is not such a company. The writing of the report was led by Kerrisdale CIO Sahm Adrangi. This is not the first time Sahm Adrangi has pointed a verbal finger at what he saw as fraud in the marketplace. He first made his name in the financial industry by exposing fraud among Chinese companies. Kodak’s plan is to use blockchain carry images of photographer’s and to resolve copyright issues involving these images. Visit Crunchbase to know more about Sahm Adrangi.
Arangi’s Kerridale report says that this is a ridiculous and impossible claim. It says that blockchains won’t resolve any such issues because blockchain won’t copyright protect anything. Basically, Kerrisdales problem can be summed up in the following points: 1) Kodak’s entire plan is full of vast exaggerations whose only purpose is to draw in investor’s to its fraudulent plan, 2) blockchains will not work at all for Kodak the way it claims, 3) Kodak is simply trying to capitalize on the current blockchain and cryptocurrency craze, and 4) Kodak will find that there are technical and legal hurdles that make what they want to do impossible.