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.

https://seekingalpha.com/article/4052332-conversation-former-hedge-fund-analyst-long-shares-gnc

Malcolm CasSelle and his Path to WAX Leadership

Malcolm CasSelle is known for his role as Chief Information Officer of the global corporation OPSkins that is leading the sales market of in-game virtual assets. The company is also the top merchant of bitcoin in the world.

One of latest directions of OPSkins is to ignite the industry of cryptocurrency through their new project called WAX. It is a platform that will bring a lot of change to the virtual assets trading market. Over the years, there has been a strong fragmentation between players on the market. The WAX platform aims to bridge that gap through a blockchain modeled after eSports. It will allow buyers and sellers to come together and tokenize their assets and sell them in a setting that is proofed against fraud and establishes a frictionless and smooth operating market.

WAX will be headed by CIO Malcolm CasSelle who is going to be serving as the President of the platform. He firmly believes that WA has the power to change the gaming industry and the way virtual assets are traded among players. Brining cryptocurrency into the gaming asset market might seem daunting to some, but in reality, it is not far off from what gamers are able to do in trading skins already. WAX is going to make it more structured and make sure that gamers have a safe space to do that trading.

CIO and President Malcolm CasSelle has a degree from the Stanford University in Computer Science. He is also a graduate of the Massachusetts Institute of Technology. In 2016, Malcolm CasSellestarted operating as the President and CTO of the Tribune Publishing where he is responsible for the investment strategy and the digital P & L of the corporation.

Other advisory positions Malcolm CasSelle has had at companies such as Directech Labs, Votocast, Timeline Labs, Bringhub, Pretty Quick, as well as several other businesses.

Malcolm CasSelle has also worked at highly established corporations such as Groupon.