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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Remembering The Kodak Crypto ICO As Stock Prices Soar

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
2 mins read
kodak stock price kodakcoin cryptocurrency ico scam

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Bitcoin’s signature volatility is finally returning, but not even the crypto market has been pumping like Kodak stocks. The photography powerhouse surged Wednesday as high as 500% intraday following news the Trump administration tapped the firm to produce generic pharmaceuticals.

The film and photography brand’s share prices surging brings back memories of the now-defunct KodakCoin initial coin offering the company proposed years ago. With Kodak (KODK) stocks back in the news once again, let’s take a walk down memory lane to remember the ICO that never came to be.

Kodak (KODK) Stocks Soar Over 1,000% In a Week On Trump Pharma News

Kodak was trending on Google yesterday and all over social media. The reason is that the United States has tapped the photography giant to produce generic drugs in response to the pandemic.

In response, the stock price soared as high as 570% yesterday and closed out the session with a 318% gain. Circuit breakers were tripped and trading was halted 20 times due to the explosive volatility.

Related Reading | Why A Stock Market Listing For Coinbase Is Ultimately Ironic For Crypto

Trump said the move was to bring jobs back stateside and to “make America the world’s premier medical manufacturer and supplier.”

Kodak (KODK) stock prices are up over 2,700% on the week.

kodak stock price KODK

KODK Stock Price 2,700%+ Weekly | Source: TradingView

KodakCoin Retrospective: The Promising Blockchain Project That Never Was

Kodak was once a pioneer in the photography space, but failure to adapt to the digital age caused the company to file for bankruptcy in 2012. The brand has been struggling to find its niche since, and big pharma may be it.

Prior to this week’s stock surge, the last time KODK stocks made headlines for suddenly rising, was also the last time the company attempted to reinvent itself.

After falling victim to the digital photography era, the brand was hell-bent on not missing out on the blockchain bandwagon.

In 2018, as the crypto market bubble burst, the firm announced plans for an initial coin offering for a crypto asset dubbed KodakCoin.

Related Reading | The Great Ethereum Debate: DeFi Versus ICOs

KodakCoin would underpin a rights-management platform for photographers based on blockchain. The idea had real merit, but eventually, interest in cryptocurrencies faded, ICOs became a target for US regulators, and the launch never took place.

It is not uncommon for brands to hop on a bandwagon as soon as it starts trending. During the crypto boom, Long Island Iced Tea changed their company name to the Long Blockchain Company, and stocks quadrupled as a result.

ICOs and the blockchain buzz have since disappeared, but what remains is Kodak on the search to find its footing as a business once again. Is this time finally it for the former film producer?

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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