Now That Is Counter-Trend

I suspect many of you heard what happened to Kodak recently. I actually didn’t even realize there were still public, but they are, and their stock has been steadily sinking for years. Earlier this week, however, they announced KodakCoin, and voila, the stock QUADRUPLED instantly!

Let’s just say I think the only people who are going to profit are those who just happened to be in the stock already. This is not the kind of move that looks like it’s just going to keep ratcheting higher (and I say that while at the same time thinking Kodak is actually pretty well positioned to take advantage of blockchain technology; their idea seems pretty damned good, frankly).

At the same time, I think there’s a good chance that Kodak now has a “higher plateau” and won’t sink back to anywhere that it was before. Look no farther than Long Island Iced Tea (oh, excuse me………Long Blockchain) for evidence of this. And, unlike Kodak, I think this is just plain silly, yet the stock remains aloft.