The 130 year old Eastman Kodak company announced an ICO yesterday because it’s 2018 and nothing matters. Since the announcement, the stock price is trading up 89%, currently at $11.90. The stock price has not been this high since March 2017.
Kodak isn’t the first company to see explosive stock gains after announcing a cryptocurrency product. Others like Veltyco, LongFin and even Long Island Iced Tea Corp all saw triple digit gains thanks to a cryptocurrency move.
Kodak’s ICO is designed to develop a blockchain system to secure digital photography rights and ensure photographers receive royalties. The company even revealed at CES 2018 a mining rig.
At this point someone could make a quick buck by buying the rights to Blockbuster or Borders Books and announce a cryptocurrency plan.