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Traders Aren’t Falling for Crypto Name Changes But Love Them Anyway

  • Professional day traders are jumping into speculative frenzy
  • HFTs, algos also pour in, trying to profit off of ‘dumb money’
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Bloomberg’s Cory Johnson discusses Eastman Kodak joining in on the cryptocurrency craze. (Source: Bloomberg)
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Who the heck buys into this crypto-mania in the stock market?

The answer just might surprise you. Turns out, some experienced day-traders are trying to ride the surge of buying that invariably follows companies that suddenly reinvent themselves as blockchain ventures. That’s enough, market watchers say, to bring in high-frequency traders and computer algos.