Sahm Andrangi of Kerrisdale Capital Management Slams Eastman Kodak Company Over KodakCoins

Sahm Adrangi is the founder of Kerrisdale Capital Management, LLC. He serves as the chief investment officer. Headquartered in New York City, NY, this company was founded in 2009. It is an investment managing firm, focused on long-term investments. Sahm Adrangi graduated from Yale University with a B.A. in Economics. Before founding Kerrisdale Capital, Sahm Adrangi worked at Longacre Fund Management, LLC as an Investment Analyst and at Chanin Capital Partners as a part of a bankruptcy restructuring group. Follow Sahm Adrangi on linkedin.com.

 

In February of 2018, Sahm Adrangi and Kerrisdale Capital Management, LLC published a report about being short on shares for Eastman Kodak Company (KODK). Despite the fact that Kodak’s share prices have risen by 187% since their latest project announcement, Kerrisdale thinks that the gain is only temporary and that the company’s share prices will fall once they can’t deliver on the product. The report was negative and demeaning towards the 138 year old company. It criticized Kodak’s latest tactics to enter into the cryptocurrency market by creating a new block chain based media rights licensing product and creating KodakCoins, a new cryptocurrency that people would have to buy into in order to use the media rights licensing product. Kerrisdale called the concept flat-out silly. Kerrisdale also went on to criticize the board members and Cameron Chell, one of the co-creators of KodakOne. A day before Kodak’s big reveal, board members awarded themselves over 370,000 private shares. This came across as a sketchy business move, and according to a former SEC lawyer, investors should be legitimately concerned about the move. About Cameron Chell, Kerrisdale pointed out that his history includes being banned from the Canadian exchange, two failed companies that he founded, and being a known associate of someone indicted for security fraud. According to Kerrisdale, having Chell on board with this project gives Kodak zero credibility.

Learn: www.businessinsider.com/meet-hedge-funder-sahm-adrangi-2013-10

Kerrisdale is hosting a conference call in regards to the short shares and the Kodak report on February 7, 2018 at 10:30am EST. For the United States and Canada, dial 1-888-567-1603 or for international calls, dial 404-267-0368. Read more about Sahm Adrangi at Benzinga.

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