The company said it is creating a platform for photographers to upload their work , utilizing the Blockchain technology to create "the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can license within the platform".
Once photographers upload and license their work they can sell confidently and securely on the Blockchain platform.
Kodak is also launching an ICO, or Initial Coin Offering on January 31, 2018 that will be called KodakCoin so photographers can manage their image rights more efficiently. From the company: "With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure Blockchain platform."
The company insists this isn't a publicity stunt.
This is all fine and good, but isn't there another company out there that does something similar to this already? Yea, that's right, it's called ShutterStock ($SSTK)! https://submit.shutterstock.com/
With all of the companies changing their name to incorporate "Blockchain" into it, cough cough, Long Island Iced Tea Corp $LTEA to $LBCC, at least Kodak is a long recognized brand that seems to be in it for the right reasons and not just to capitalize on the Blockchain / Cryptocurrency craze.
This is unreal!! I am truly having a Kodak moment right now!
Technical Analysis
$KODK has traded 69 million shares as I write this. That's including after hours trading. Average daily volume for this stock is 243,171 shares. This is the most volume this stock has seen since the company reemerged from bankruptcy in September 2013.
Let's take a look at some of the upside levels to watch for potential resistance tomorrow. The stock currently gapped up into $9.50 after hours and was unable to break through. Potential levels of resistance that I would pay attention to are $10, $11.70 - $12 area, then lots of price action around the $15.30 area, then if the stock really moves tomorrow, the $21 area. If this thing really wants to move in the morning, we shouldn't encounter too much trouble until the $15 area. Of course always watch your $1/2 and whole dollar areas as they are always psychological areas of resistance and support.
If it gets above $21 tomorrow I will revisit the chart.
Update 1/9/18 6:45pm:
Shares of $KODK just hit $10.10!! That puts it up over 231% on the day!!!
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