Probing Eastman Kodak Company, Sahm Adrangi on the case

Probing Eastman Kodak Company, Sahm Adrangi on the case

Meet triumphant investor Sahm Adrangi, a well versed institutional investor, founder and CIO of Kerrisdale Capital Management LLC, an investment manager located in New York City. When it comes to investing, his approach focuses more on value, and he is a generalist. He has years of experience having worked for companies such as Longacre Fund Management and Chanin Capital Partners. Education is vital; he schooled at Yale University where he graduated with a bachelor of arts in economics.

Recently, Sahm Adrangi’s company published a negative report based on the Eastman Kodak Company, a financial printing, and imaging firm. Kerrisdale anticipates that the value of Eastman Kodak’s stock will plummet in the short term. Kerrisdale will profit from the stock’s plummeting.

So why did Sahm Adrangi and his company take this stand? Eastman Kodak’s stock value skyrocketed by 187% a day after they had announced their blockchain and cryptocurrency licensing platform. Some of the board members at Kodak allocated themselves shares the day before the briefing. Also, the company added to its PR a stock advocate with a quilted past. As if that wasn’t enough, some German copyright persons reformed to blockchain facilitated image platform managers. All these raises many questions.

KODAKOne intends to use the blockchain and cryptocurrency in their media copyright platform, a move that will not be of any significant use to the company. An example being, photographers would choose to be paid with real cash over KODAKCoins. Speaking of KODAKCoins, the unit behind this cryptocurrency lacks validity, not to mention that in the recent past, their promoter was outlawed from a Canadian stock exchange.

Kodak also showcased Kodak KashMiner, a cryptocurrency mining rig, which has also been proven to be a scam. Kodak is a company facing severe financial problems, and KODAKOne and KODAKCoins are not the solutions to their situation. Also, the suspicious trading by the company’s board members could attract an SEC investigation. Sahm Adrangi says that Kodak’s rise in shares will not have a good ending.

https://www.thehedgefundjournal.com/content/sahm-adrangi