Top reasons why Sahm Adrangi feels that Kodak stock may be headed for zero

It’s clear to see that the Kodak company that we all remember from decades past is no longer the photography powerhouse said it once was. With flashy competitors entering the market such as GoPro it has been difficult for the struggling company define new income streams and stop the slow bleed out of cash that has been going on over the last few years. Despite some recent success, many prominent investors such as Sahm Adrangi believe wholly that there is little upside or potential future for Kodak, and the stock may be headed to zero.

Most notably, Sahm Adrangi has pointed out that Kodak has become the victim of cryptomania. Their recent partnership with WENN Digital came with the announcement of a new crypto-currency called “KodakCoin”. The intention of this coin was to establish proprietary Network for photographers to capitalize and trade there copyrighted photography with advertisers and other content purchasers. Baba stock initially tripled in price, the company has seen significant losses, returning the stock back to more modest levels.

Another reason Sahm Adrangi feels that the Cryptocurrency operation is ill-fated is the fact that so little money has been generated by prospective investors during the Initial Coin Offering (ICO). KodakCoin’s ICO had to be pushed back several weeks and still has less than 2 million dollars worth of initial backing. There is little reason to believe that this $2,000,000 investment can justify the subsequent $100 million+ dollar addition to the company’s market cap that had occurred after the announcement.

Finally, Sahm Adrangi notes that we haven’t even seen prototype software that KodakCoin will use. As mentioned before KodakCoin was intended to be more than a cryptocurrency alone, it was supposed to help photographers share and sell their work on a proprietary platform. To date there is no beta version of this software available, nor are there any notable content providers using the platform. Even if the platform is capable of doing what it promises, there are next to no users on the market, and therefore little value to be had by anyone.

As a result, there is little reason to invest in the company today.

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