Kodak Is Now Up Over 300% Since Launching KodakCoin

Wednesday, January 10, 2018
By Paul Martin

by Tyler Durden
ZeroHedge.com
Wed, 01/10/2018

Greater-est fools discovered…

Following yesterday’s launch of “KodakCoin” and Eastman Kodak’s explosion higher, ‘investors’ continue to pile their hard-earned gambling chips into the stock this morning.

KODK is now up over 300% since the company unleashed “a photocentric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”

Who’s buying? That’s easy… (as Bloomberg notes)

The answer just might surprise you. Turns out, some experienced day-traders are trying to ride the surge of buying that invariably follows companies that suddenly reinvent themselves as blockchain ventures. That’s enough, market watchers say, to bring in high-frequency traders and computer algos.

And to these players, what really matters isn’t so much that crypto is real, but that the share-price moves — and the quick profits — are.

“The interest in these stocks is so strong because many traders like me are so hungry for the increased volatility,” said Jim DePorre, a professional day trader and founder of sharkinvesting.com. “I know that there are still traders willing to jump in, so who cares if the stock has questionable value?”

The Rest…HERE

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