• 12 hours How To Play The Next Stage Of The Marijuana Boom
  • 18 hours India Looks To Import More Venezuelan Oil Under Biden
  • 20 hours 3 Unstoppable Stocks With A Biden Boost
  • 1 day The Biggest Biotech Story Of 2021?
  • 2 days Biden Looks To Rejoin Paris Climate Agreement
  • 2 days Capital One Fined Again For Money-Laundering Failure
  • 3 days The Star-Studded Fund Backing Clean Energy Startups
  • 4 days The Unexpected Retail Segment On Track To Hit $68B
  • 6 days Oil Demand Falters On New Wave Of Lockdowns
  • 7 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 7 days Investors Should Be Worried About Tech Stocks
  • 9 days Battle For Market Share Intensifies In COVID Streaming War
  • 11 days Censorship Is Now Private, And That’s Scary
  • 14 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 15 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 17 days NYSE Reverses China Company Delisting Plans … For Now
  • 18 days The Dollar Could Remain Weak For Years To Come
  • 22 days The Simple Secret To Tesla-Like Gains
  • 22 days US-Listed China Stocks Have 3 Years To Become Transparent
  • 25 days $30,000 Is The New $20,000 For Bitcoin
Saudi Arabia Plays Both Sides Of Russia-U.S. Spat

Saudi Arabia Plays Both Sides Of Russia-U.S. Spat

Saudi Arabia’s ongoing-and-growing relationships with…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Kodak Soars 77% on News it Will Launch "KodakCoin" Cryptocurrency

Kodak wants in on the hype. It announced its own cryptocurrency today, the KodakCoin.
Today Kodak hopped aboard the Crypto Bandwagon with a “major blockchain initiative.”

The company and WENN Digital announced Tuesday the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency.

For its part, Kodak acknowledged in its press release that blockchain, like cryptocurrency, is a “hot buzzword” right now, but CEO Jeff Clarke said that the technology will actually prove useful in the company’s case. “For photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem,” he said in the release.

 

Asserting Control Over Work

What does the KodakCoin have to do with the unsolvable problem of photographers "who’ve long struggled to assert control over their work"?

Absolutely nothing!

It's a digital coin stupid. It's possible that blockchain technology will be of some use in regards to the stated mission, but the coin is pure nonsense.

Companies needing to resort to hype to boost share price are more than likely solid long-term shorts. Kodak went bankrupt once. It's share price looks as if it may have been headed there again.

I have not followed the company for years, and have no position, but this is nothing more than a clear gimmick to boost share price, and an obvious one at that.

By Mike Shedlock

Back to homepage

Leave a comment

Leave a comment