Author Topic: Did Kodak Just Go Full Retard?  (Read 2631 times)

rb

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Re: Did Kodak Just Go Full Retard?
« Reply #10 on: July 29, 2020, 01:37:35 PM »
Frankly, I wish that some of the names that I own would go FullTard
Hahahahhah   ....  Hahahahhaha

That never happens if you're a rational investor or a value investor. In my career I once got a little retard, like 10%-20% retard and I thanked the heaves for it. If I ever get full 100% retard I buy beers for the whole board.

You once got a little retard or your name got a little retard?  I am not looking to go retard.  I want my name to go a little retard.
Sorry, I wasn't clear. I didn't go retard. My name went a little retard. It felt awesome. The previous day I was getting margin calls and shit because of it.

Nut now that you mention it I was ready to go a little retard when it happened. A great party definitely happened the next night.


5xEBITDA

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Re: Did Kodak Just Go Full Retard?
« Reply #11 on: July 29, 2020, 01:49:09 PM »
I don't think so - on a perfunctory view, it was trading at less than cash per share.

Basically zero optimism priced in, low trading volume, and then this 715M loan revolutionized the prospects of this company.


Hey sorry, I don't understand this part.

Q1 cash was $209 million, but only $62 million was held within the US. Of the non-US cash, $88 million of cash was in China. My prior discussions with the Company indicate that while it may be possible to get non-US, non-China-based cash back to the US, they cannot get the China cash out easily due to the need to dividend it out of a specific subsidiary which requires both US and Chinese regulatory approval.

Assuming all $209 million cash is available, I still don't understand the net cash part. They have $111 million convertible debt outstanding, a $373 million unfunded pension liability, and another $200 million of convertible preferred stock all ahead of the equity. The equity was (and still is?) significantly out of the money and based on some work I did back in April I felt they would require bank debt amendments in order to avoid triggering covenants over the next several quarters.

Edit: From what I understand, the government financing is only an LOI and still has some hurdles to clear. Further, their facility has not been built / renovated / approved / etc. Think this is way overdone.

On 7/27, 9,312 Robinhood accounts owned KODK stock. At the close today, 113,464 Robinhood accounts owned the stock.
« Last Edit: July 29, 2020, 01:53:41 PM by 5xEBITDA »

Jurgis

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Re: Did Kodak Just Go Full Retard?
« Reply #12 on: July 29, 2020, 01:57:11 PM »
Blue Horseshoe loves Kodak
"Human civilization? It might be a good idea." - Not Gandhi
"Before you can be rich, you must be poor." - Nef Anyo
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valueinvestor

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Re: Did Kodak Just Go Full Retard?
« Reply #13 on: July 29, 2020, 02:53:52 PM »
I don't think so - on a perfunctory view, it was trading at less than cash per share.

Basically zero optimism priced in, low trading volume, and then this 715M loan revolutionized the prospects of this company.


Hey sorry, I don't understand this part.

Q1 cash was $209 million, but only $62 million was held within the US. Of the non-US cash, $88 million of cash was in China. My prior discussions with the Company indicate that while it may be possible to get non-US, non-China-based cash back to the US, they cannot get the China cash out easily due to the need to dividend it out of a specific subsidiary which requires both US and Chinese regulatory approval.

Assuming all $209 million cash is available, I still don't understand the net cash part. They have $111 million convertible debt outstanding, a $373 million unfunded pension liability, and another $200 million of convertible preferred stock all ahead of the equity. The equity was (and still is?) significantly out of the money and based on some work I did back in April I felt they would require bank debt amendments in order to avoid triggering covenants over the next several quarters.

Edit: From what I understand, the government financing is only an LOI and still has some hurdles to clear. Further, their facility has not been built / renovated / approved / etc. Think this is way overdone.

On 7/27, 9,312 Robinhood accounts owned KODK stock. At the close today, 113,464 Robinhood accounts owned the stock.

Donít apologize, I donít doubt your right. For some reason, I was under the impression they were net cash in my head, as I looked at it some years ago. I didnít bother to verify, as I thought someone would correct me. So thank you!  :)

Spekulatius

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Re: Did Kodak Just Go Full Retard?
« Reply #14 on: July 29, 2020, 07:02:38 PM »
Looks like insidertrading is crime number one:
https://finance.yahoo.com/news/closer-look-kodak-chairmans-stock-173052759.html
There are likely more. I canít see how Kodak is most qualified to produce pharmaceutical ingredients. There are likely hundreds of more qualified entities.
Life is too short for cheap beer and wine.

cherzeca

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Re: Did Kodak Just Go Full Retard?
« Reply #15 on: July 29, 2020, 07:22:07 PM »
"On 7/27, 9,312 Robinhood accounts owned KODK stock. At the close today, 113,464 Robinhood accounts owned the stock."

curious where you got this datum

Spekulatius

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Re: Did Kodak Just Go Full Retard?
« Reply #16 on: July 29, 2020, 07:36:22 PM »
"On 7/27, 9,312 Robinhood accounts owned KODK stock. At the close today, 113,464 Robinhood accounts owned the stock."

curious where you got this datum
https://robintrack.net/symbol/KODK
Life is too short for cheap beer and wine.

cherzeca

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Re: Did Kodak Just Go Full Retard?
« Reply #17 on: July 29, 2020, 08:10:25 PM »
"On 7/27, 9,312 Robinhood accounts owned KODK stock. At the close today, 113,464 Robinhood accounts owned the stock."

curious where you got this datum
https://robintrack.net/symbol/KODK

so robin hood is like one big momo community.  actually makes alot of sense to offer this info to their community...

alpha

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Re: Did Kodak Just Go Full Retard?
« Reply #18 on: July 29, 2020, 08:15:52 PM »
Looks like insidertrading is crime number one:
https://finance.yahoo.com/news/closer-look-kodak-chairmans-stock-173052759.html
There are likely more. I canít see how Kodak is most qualified to produce pharmaceutical ingredients. There are likely hundreds of more qualified entities.

I thought it was odd too. The Kodak CEO and chairman was on yahoo finance this morning trying to explain this. He said that primarily Kodak was not a camera company but a film company so they have lots of infrastructure in place for handling and processing large amounts of chemicals.

https://finance.yahoo.com/video/kodak-stock-soars-white-house-155307355.html


cknucks

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Re: Did Kodak Just Go Full Retard?
« Reply #19 on: July 29, 2020, 10:03:42 PM »
I don't understand it.  I don't see that they have any qualifications to produce any of these drugs at any price.  Why Kodak?  Forget the loan.  Why are they getting a contract?