Kerrisdale Capital Management LLC, founded by Sahm Adarangi. It was founded in 2009 and it is located in New York. It is a private investment manager that deals with investments that are likely to bring a long-term value as well as special situation investments. Kerrisdale Capital has a membership affiliation with Financial Industry Regulatory Authority. Read more about Sahm Adrangi at Institutional Investor.
Recently, Kerrisdale Capital published a negative report about Eastman Kodak Company, giving an explanation as to why they have been short positioned in this long existing commercial printing and imaging company. Kodak’s stock has suddenly risen to more than double, that is to 187%, ever since they announced of the partnership to launch a platform for blockchain-enabled image licensing and photo-centric cryptocurrency.
According to Kerrisdale, the Kodak’s announcement is nothing but mere attempt to put at bay the ICO craze that will do nothing to set it free from its poor state of the event and the unstable and non-manageable capital structure. It is highly impossible for Kodak to make a value of over $300 million shortly after licensing its product to a blockchain project, states Kerrisdale Capital in the report. Just a day before Kodak made the announcement, the company’s board members awarded themselves shares so conveniently, while a questionable stock promoter was to handle the PR matters and a German copyright group trolls present themselves as “ blockchain-enabled image platform managers.” Read more at Endpoints News about Sahm Adrangi.
Kerrisdale Capitals states that even though blockchain, as a technology, has the capacity of disrupting several companies, this may not be the case as their use by KODAKOne in media rights licensing since it accomplishes nothing. Kerrisdale report says that it’s a completely silly idea for KODAKOne to think that they can find a solution to the copyright infringement problem by the use of a crypto-asset and smart contracts. The resources needed for copyright enforcement cannot be reduced by a blockchain. Sadly, those behind the KODAKCoin have no credibility on the blockchain. This attempt is not a solution but the last result of bankruptcy.
About Sahm Adrangi.
Sahm Adrangi is the CIO at Kerrisdale as well as the founder. Previously, Sahm Adrangi worked at Longacre Fund Management as an Investment Analyst. He has also worked at Chanin Capital Partners as well as with Deutsche Bank, in a leveraged finance group. He is a graduate of Yale University with an Economics’ degree.