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What: Shares of film photography specialist Eastman Kodak (NYS: EK) spiked more than 15% for the second straight day, as optimism surrounding a possible sale grew.
So what: Citing anonymous sources, The Wall Street Journal confirmed Mr. Market's Wednesday suspicions that Kodak would look to shop its patents related to digital imaging. Yesterday, MDB Capital Group estimated that Kodak's patent portfolio may be worth roughly five times its current valuation, so it's no surprise that the shares keep surging as more and more reports suggest that a deal is imminent.
Now what: Kodak has apparently hired investment bank Lazard, who started reaching out to prospective purchasers earlier this week, as an advisor on the patent sale. Of course, The Journal also reported that there are people close to the sale who question the ultimate value of Kodak's patents, so investors shouldn't bet the house on a blockbuster buyout just yet. Google's (NAS: GOOG) recent gamble has triggered tons of excitement around patents lately, but as Fools know, getting caught up in frenzies usually leads to disappointing results.
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