Kerrisdale Capital has recently published their own report regarding the current status and business efforts of the company Kodak. Most people have heard of this company at some point since they used to be a major player in the photography market at one time. As of late, Kodak has been catching the eye of investors because of their enormous increase in stock value, which increased roughly 190 percent in a matter of days. According to Sahm Adrangi, CEO of Kerrisdale Capital, this is because of their involvement with crypto groups. Right after Kodak stated they were going into business with cryptocurrency groups is when their share prices rose. This has lead Sahm to believe that their shares are just overpriced for the time being and will likely go down, which is normal in cryptocurrency.
Sahm Adrangi is warning every investor that he can to avoid Kodak for the time being due to their somewhat shady business practice as of late. Only a few years ago, Kodak had to file a chapter 11 to stay in business because of their lack of management and upgrades, but today they have done very little to change that. In fact, Sahm Adrangi believes Kodak management has not changed their direction at all other than forming an alliance with a cryptocurrency group. This means that Kodak will ultimately succumb to the same fate as before once their share prices inevitable drop again.
Kerrisdale is currently holding the short position with Kodak, and should the company go under, Kerrisdale will profit. This is all the more reason for investors out there to stay away from the company. Sahm Adrangi is hardly wrong when it comes to his investment insight into various markets and companies. This is how he managed to grow Kerrisdale Capital into a multi-million dollar corporation. All things considered, when dealing with a company that has a troubled past and a future that is unsure, it is best to stay away until things settle down and become steady before investing with Kodak.