by Wolf Richter
Insiders front-run the announcement. Locust-swarms of Robinhood traders pile on top. Taxpayers brace themselves. Shaking my head while holding my nose.
Yesterday or today was probably the first time that many Robinhood traders had contact with something antediluvian called “Kodak,” and boy did they jump into it.
People who have been around this zoo for an additional two years remember that Kodak last was infamous for a crypto-insider-stock-grant scheme when it announced on January 9, 2018, that it would create its own crypto, called KodakCoin, which at the peak of the crypto-idiocy, caused its stock to quadruple in two days, from $3.10 to $12.40, before it re-collapsed.