Owners of Eastman Kodak stock (symbol: EK) have taken a brutal beating over the past ten years. On October 8, 1999, EK sold for $74.75 per share. Today, the stock sells for less than $3 per share.
Not much less than $3 per share, though, thanks to a seven percent jump in the share price just today. Although many traders are attributing this sudden stock price rise more to a technical "short squeeze" than improved fundamentals at EK, it's worth considering the fact that Kodak has made good inroads into the document imaging market.
EK management has aggressively moved into the imaging and scanning market, even to the extent of cannibalizing their prime business over the years, which has involved selling the inks and paper and printers necessary for producing physical rather than digital images.
Today, digital images are not only the future but the present. Document imaging services are multiplying daily and document scanning is commonplace in offices large and small.
Credit Eastman Kodak for facing those facts and moving in the right--digital--direction.
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