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.
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