Shares of Eastman Kodak has almost doubled after the company announced the launch of its cryptocurrency KODAKCoin. The company said that cryptocurrency is created for the convenience of photographers working on the blockchain the platform KODAKOne designed for image management.
This has sparked the interest of investors. On the new York stock exchange, shares of Kodak rose 92% to $5.95. The maximum value reached $6.65.
Eastman Kodak is not the only company that has benefited from involvement in bitcoin. So the manufacturer of iced tea Long Island Iced Tea, which changed its name to Long Blockchain Corp and stated about the orientation of its activities on the blockchain and cryptocurrency, also raises the interest of investors.
The company’s shares Inpixon (INPX.O) increased by 40% after the company dimension data has announced that it is implementing in its activities the technology of the blockchain.
The hype around the blockchain occasionally brings to the anecdotal. For example, shares of the company UBI Blockchain Internet for 2017 increased by 10 times, turning the company into a «unicorn» at a cost of 1.2 billion dollars. At the same time, the company does not have staff developers and do not lead a real business.
«This is ridiculous, – said trader Dennis dick of Bright Traiding LLC. – From a fundamental point of view, none of this makes sense.»
Despite such statements, Kodak already called the company that managed «to jump in last car». Founded over 100 years ago, for many years she was a leader in the market of photographic equipment, but in the early 2000s, almost went bankrupt, not focusing on new technology. Since 2004, shares of Eastman Kodak fell more than 90%. Now, thanks to the launch of cryptocurrency, they grew by 92%.