The investment world is a very difficult one to navigate. For those that are looking for investment advice, following the tips provided by experts and professional investors could be a great option. One investor that has continued to provide great tips and insight to investors and other people is Sahm Adrangi. Sahm Adrangi is very well known for being the head of Kerrisdale Capital. Recently, he provided some negative feedback about one of the most iconic companies in the United States. Learn more about Sahm Adrangi at Businessinsider.com.
During a recent interview, Sahm Adrangi stated that he believed that the stock for Eastman Kodak was bound to decline in value in the near term. Much of the anticipated decline in value is attributed to a recent value increase of the company stock. While Eastman Kodak is best known for being a camera company, the company ended up getting a huge boost in value when it said it would be starting its own digital currency. The news of the digital currency coming out came at the same time when the price of Bitcoin and other digital currencies were going through the roof.
While having a digital currency could be a good thing for some companies, Sahm Adrangi believes that it will provide no value to Eastman Kodak. He believes that there is no real reason for the company to have its own digital currency and that having one will not lead to more sales of value for the firm. Furthermore, the company that created the technology behind the digital coin has a skeptical background. This includes creating other products that have not had a lot of value.
Another reason why Sahm Adrangi is skeptical about the value of Eastman Kodak is that the company had some irregular stock moves. In just a few days before the company announced that they would be releasing the coin, all of the members of the board of directors for the company announced that they would be receiving some restricted stock. This is very odd timing for giving more stock to anyone and while it has not been investigated yet, this is activity that could draw the attention of the SEC. Read more about Sahm Adrangi at Institutional Investor.