Kodak shares have more than tr ipled since announcing new cryptocurrency KodakCoin

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Kodak shares have more than tr.ipled since announcing new cryptocurrency KodakCoin.
Investors really love Eastman Kodak's makeover.

One day after the 130-year-old industrial company announced plans for its own cryptocurrency, shares are soaring 72%.

KodakCoin will roll out after an initial coin offering later this month, Kodak said on Tuesday. Blockchain, the technology underpinning popular digital currencies like bitcoin, is going to be used to build KodakOne, the company's new photo rights and royalties tracking product for digital photographers. KodakCoin will be the currency used on that platform.

Kodak shares jumped more than 60% on Wednesday and have now tripled since the announcement. The shares were around $3.13 before the announcement was put out and were last trading above $11.



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Kodak shares have more than tr.ipled since announcing new cryptocurrency KodakCoin