Kerrisdale has a rich history of making retarded calls, such as short STRP, SAGE, and VSAT. I have no idea how they’re still in business. Nevertheless, they are and now they’re directing their ire at the blockchain, specifically calling out Kodak as a ‘zero.’
Shares of KODK are sharply higher on this contrarian news, as Wall Street couldn’t give two shits out the report.
“No photographer would rather be paid in KodakCoins over real money,” according to a report Wednesday from Kerrisdale, a hedge fund known for moving stocks with its outspoken calls. “It’s a last-ditch stock promotion gambit for a company hurtling towards bankruptcy.”
“Rather than dreaming of a ‘new economy’ for photographers, shareholders should be concerned about an eventual wipe-out,” Kerrisdale said. “Eventually, possibly as soon as the next time Kodak reports earnings, a share price levitating on the hopes of blockchain technology will give way to the gravity of dying, old-world fundamentals.”
Here’s Kerrisdale’s last two high profile shorts, laughable clown failures.
Just cuz Kerrisdale made a few bad calls does not mean they are wrong this time. This cryptochain ‘mania’ is reminiscent of dotcom era…full of buzz and fraud, i.e. Ripploff. This shitoken ripple, just by being backed by banks cannot be anything but fraud, is designed to exchange half-ass implemented vaporware for bitcoin (not usd confetti) and then short the same bitcoin on CME. So transparent.
Admit it. You just don’t like Ripple because they have Jews working for them.
Good a reason as any I suppose
How can you hate on KODK with a Bullwinkle as CFO!?
That’s racist!
China denies decreasing our debt buying…but bottomline, they rather buy A Belt or A Road instead of our messed up debt. Wake me when S and P is under 1755 which it should have never gone over.
It makes no business sense for Chinks not to sell USFed debt. The whole irony is that by raising short-term rates, the Fed is working to lower the value of the dollar cuz when the fed funds rate is raised it causes the whole yield curve to shift up, raising yields for longer-dated t-bills as well. And since Chinks own a shitload of UST, they are losing money so they step back from buying and sell which causes the usd lose value, inflation up in US as import prices rise and the cost of capital climbs. Fed fights inflation, raises rates and instead of USD rising and inflation falling the opposite is happening. Ad infinitum.
While I’ve tripled my money on dollar puts bought in Dec and while I’m at the same time I’m nicely profitable on my 20 year bond short (both posted here), you’ve been predicting that the dollar and bonds would rocket. WTF?
Exactly. No change in long-term outlook for me, USD towards 140, etc. You and @nympho up there are picking up fake pennies now in front of the Fed steamroller, I’m waiting for goy Powell to make a move and Greater Israel war in ME – that’s the game changer. Europe going down via sovereign debt/bank implosion first. DB is shaking already. That’s my stratagem. Fun and games until then… Oh, and US equities sky-high as global capital rushing into safety of US companies. Hedge fund SNB is already loaded w/ US equities, yes?
Good to know. You are patient, stubborn or wrong. re SNB, they’re just another entity that will have a hard time selling without it being known that they’re liquidating. And we don’t know what their plan is. Anyway, what do they have …maybe $100 billion in US stocks. Not that huge – eh?
@ferd, the value of anything in confetti is irrelevant. Their final and ultimate goal is global communism. When 1st wave of communism happened in eastern block, the world was on gold standard and the bolsheviks instead of purchasing it with au/ag, they stole all productive capital by nationalizing it for the state and made citizens into slaves. They “gave” it back 50yrs later via coupon privatization which gave rise to corrupt oligarchy. Look what is happening now. CB’s are exchanging their worthless (((confetti))) for productive and real assets. They already turned citizens into debt slaves. They need big war to cause chaos while they retain ownership of productive assets while keeping the surviving citizens as debt slaves. That’s why edu loans are not dischargeable. The only thing that stands in their way is au/ag. Russia, Iran,China…all hoarding gold. JPM cornering the silver market. Stupid goy shorting paper PM. Do you see now why (((they))) are indoctrinating everybody w/ marxism? They want Jerusalem as capital of the JWO. Why smart ppl are interested in their confetti instead of sound money is beyond me.
the plebs are broke. note record high credit card and car and student loans. time to flush the toilet. so they can print for infrastructure which will bring in hyper inflation and helicopter money.
They went after Northern Dynasty $NAK last year. First Quantum valued $NAK at $10 Dec. 2017 with their option to buy 50% for 1.5 bil. EPA pulled a legal maneuver recently that the left media totally misreported and had to retract end of January 2018 driving the stock below $1 where I loaded up. Serious buying op. still.
God damn, everyone loves SNAP now.