October 30, 2017 11:30 PM
Some financial experts are predicting Kodak may not be around in the next year. We wanted to get some answers closer to home and this is what we learned.
"If they continue in the direction they're going now, Kodak will not be around in two or three years from now." Certified Financial Planner Doug Hendee says Kodak's stock price is indicative of the trouble facing the company.
Kodak shares are trading at an all-time low since the company emerged from bankruptcy four years ago and became a digital printing company. Shares that once sold for $29 in 2013 traded Monday for $5.25. We went to Brighton Securities for some answers. Hendee says the company has an identity problem.
"The truth of the matter is there aren't a whole lot of people in this town who can specifically tell you this is what's Kodak's core business is and moving forward out into the future," says Hendee. "They're going to leverage their brand and grow this company."
We tested Hendee's theory at a local eatery and his claims rang true as customers weren't really sure what Kodak's core business was. People we spoke to thought Kodak specialized in film still. But it's been almost a decade since film and cameras were Kodak's core product.
Created: October 30, 2017 11:30 PM
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