Just last month, Sahm Adran gi’s company Kerrisdale Capital issued a negative statement against the Kodak company. Eastman Kodak is a printing and photography company that has been in the market for over a century, but as of late they haven’t been doing good business. Kerrisdale Capital, a private investment company that invests in company’s all around the world is currently taking the short position with Eastman Kodak, standing to profit if their shares go down. This is because Sahm Adrangi is certain that their stock prices will eventually go back down despite their receive drastic increase.
Eastman Kodak’s shares rose almost 200 percent when they announced their involvement with cryptocurrency markets and a partnership with a crypto group. According to Sahm, this is a “hollow attempt“ by Eastman Kodak to take advantage of unwary investors and soak up any last profits that they can before going under. Their latest business exploits are not doing anything to offset the many issues facing Kodak’s company today, which they were facing six years ago as well when they had to file a quick chapter 11 before going bankrupt.
Not only is Eastman Kodak doing virtually nothing to change the image they have gained over the past decade, their business practices are shady. Sahm Adrangi questions the current state of management at Kodak and whether or not their latest exploits are simply a con since they are not on par with that of the former photography and printing giant.
In any case, Sahm Adrangi has issued a warning to all investors to stay clear of Eastman Kodak for the time being to see how their shares settle in the coming months. Cryptocurrency is largely unstable still these days as it is all new an emerging, which leads Sahm to believe the value of their shares is currently overpriced. In most cases, Sahm Adrangi’s advice is spot on, which is how he managed to build a massive multi-million dollar investment company with less than a million dollars start-up capital.