Kodak shares rise 89% after announcement of initial currency support operation "ICO"

The 130-year-old Eastman Kodak announced its initial currency support yesterday. Since the announcement, the company's share price has risen 89 percent to trade at $ 11.90. As the share price has not risen since March 2017.

Kodak was not the first company to see an explosion in its earnings as a result of rising stock prices after the announcement of a digital currency product. Many other companies have also seen Veltyco and LongFin, which have seen huge gains thanks to the launch of the digital currency.

Kodak's initial currency support is designed to develop the Blocchin system that provides digital rights and photographers' rights. The company also revealed the CES 2018 mining device. Hence, someone may be notified of the purchase of property rights and then announce a plan to launch a digital currency and enjoy profits.

Company bankruptcy

The company achieved a 90% success in acquiring the US market, but since the late 1990s, the company has been suffering from the low sales of its film products due to the digital camera's appearance. The company started to fall in 2004, Of Dow Jones' list of the top 30 companies in the United States, but the price of the company's shares declined significantly in the US stock market, until the price of the share to one dollar.

With the company's beginnings, which relied on what is known as the razor-blade strategy, that is to sell cameras at low prices, in order to get high marketing quotas, for both films and photo paper, the main principle of the company was a large production and low cost, Powerful advertising, thus achieving global reach, focus on the customer by constantly searching for it.

After this long history of success, the company declared bankruptcy in 2012, the company resorted to that step to protect the assets of the company from creditors and reorganization, the company did not predict the revolution of digital photography and smart phone cameras, and was trying to compete, after Citigroup provided a credit facility , Worth $ 950 million, to save the company but also no longer competitive enough to compete with major camera companies such as Canon and Nikon.

With the conviction of entering the world of technology, the police entered very slowly, gradually, so as not to cause a change in the pattern of work, it was difficult for them to abandon the legacy of a century, and then the problem emerged clearly, in the weak capabilities of the manufacturing company, For printing papers, acidification chemicals and photo processing.

In 2003, the company changed its strategy to expand its digital business and tried to introduce screens and inkjet printers in order to build competitive advantages and to develop radiographic devices to open consumer markets with pharmaceutical products.

But it was in trouble. All those acquisitions were to avoid failure, but they were all about integration with all the competitors, but they did not effectively define their future, and they could not understand the rapid digital future. They could have saved billions of dollars in investments. Traditional and radically oriented to the digital world but preferred to compete in a narrow market of medical products.