The stock was last up 92 percent at $5.95 in midafternoon trading on the New York Stock Exchange, off an earlier high at $6.65. The film pioneer founded over a century ago has struggled to transform itself into an imaging software and technology company. Kodak was a Dow Jones Industrials component until April 2004, and its stock has slumped 90 percent since it emerged from bankruptcy in 2013.
Several other companies in recent weeks have been rewarded with sharp rises in share price after announcing their transformation into cryptocurrency businesses. "This is getting ridiculous," said Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas. "From a fundamental point of view, none of this makes sense."
Riot Blockchain shares have tripled since October when the former biotechnology firm changed its name and said it was revising its business focus to bitcoins.Soft drinks maker Long Island Iced Tea has more than doubled since it said it was shifting its focus to blockchain technology and changing its name to Long Blockchain Corp.
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