[2017-10-27] Company Added ‘Blockchain’ to Its Name and Its Shares Surge 394%

[Beef Coin]

A British company that has been investing in internet and information businesses is having its best day on record.

On-line Plc jumped as much as 394 percent on Friday after announcing plans to change its name to On-line Blockchain Plc, following an initial climb of 19 percent on Thursday when it first announced the news. It’s the biggest one-day gain for the small-cap company since its December 1996 listing. The trading volume that reached 2.9 million shares by early afternoon in London is equal to more than 16 times the entire year’s trading before the last two days.

“Blockchain technology and cryptocurrencies are a new and exciting area we have been working on for some time,” the Essex-based company said in a statement on Thursday. “We feel the time is right to re-name the company to reflect these developments, where we believe the future growth will be in our sector.”

The shares pared gains after the company published a follow-up release on Friday, cautioning investors that the development of its blockchain product is still at an early stage. Still, the 238 percent rise as of 2:36 p.m. in London leaves the company’s market value of 4.4 million pounds ($5.8 million) at its highest since 2005.

This isn’t the first time that investors have gotten excited about a name. Shares in Colorado-based Bioptix Inc. nearly doubled in value in the days leading up to its name change to Riot Blockchain Inc. earlier this month. In what seems to be a case of mistaken identity, a New York-based startup called SNAP Interactive Inc. jumped more than 150 percent in the days after Snap Inc. filed for a $3 billion initial public offering in February. Little-known SNAP Interactive makes mobile dating apps, while Snap Inc. is the parent of the popular Snapchat photo-sharing app.

Source: https://www.bloomberg.com/news/articles/2017-10-27/what-s-in-a-name-u-k-stock-surges-394-on-blockchain-rebrand

[Irvinn]

This news just shows how people are now actively supporting the crypto currency and its blockchein technology that even changing the name of commercial firms to which these words are added leads to such a huge increase in their shares.

[Nameless27]

That’s what this community is all about, we support those who recognized us. This might be a start for others to follow the company show how flexible and versatile to adapt on new clients. This is more than a record but a history that yet to be unfold.

Blockchain is the new kind of brand, when we say security and profits at the same time. Great news we are coming.

[hatshepsut93]

That's a good sign that blockchain is going mainstream, but it's also sad that blockchain has been separated from cryptocurrencies and many cryptocurrency haters have been embracing it lately. So, on one hand it can be viewed as inadvertent support for cryptocurrencies, but on the other we might see a big competition between private and decentralized blockchains - the private ones will be backed by banks, big companies and governments while decentralized blockchains will be supported by communities and investors. Unless, of course, it will turn out that centralized blockchains are just hype and they can't improve every database system.

[1Referee]

It's not that much of an achievement if you consider how small that company is. If we take into consideration the growth they have gone through after their 'name change', then it's still a small company. Currently, it has a market cap of around $450 million, where if another institution decides to buy itself into on-line plc, it can add another increase of a few hundred percent. That being said, institutions are far better off directly investing in crypto itself, than in whatever business claiming to be involved in blockchain technology and whatnot. Basically every more popular crypto currency has massively outperformed any sort of investment directly into whatever crypto related business. Is it really that difficult to figure out after so many years?

[onrise]

This news just shows how people are now actively supporting the crypto currency and its blockchein technology that even changing the name of commercial firms to which these words are added leads to such a huge increase in their shares.

People do like this technology because of its advantages and also help you to make some money through business around cypto currency. But govt feel other way around as they cannot control the overall market and due to which they may not accept in their county and some of the countries have already banned it.

[buwaytress]

That's a good sign that blockchain is going mainstream, but it's also sad that blockchain has been separated from cryptocurrencies and many cryptocurrency haters have been embracing it lately. So, on one hand it can be viewed as inadvertent support for cryptocurrencies, but on the other we might see a big competition between private and decentralized blockchains - the private ones will be backed by banks, big companies and governments while decentralized blockchains will be supported by communities and investors. Unless, of course, it will turn out that centralized blockchains are just hype and they can't improve every database system.

I disagree. I think blockchain tech has really come into its own and outgrown its sole association with Bitcoin. Of course they're still inseparable - any decent blockchain course online still takes you through the fundamentals of Bitcoin and how to code in the language. I think it's a great thing that "crypto haters" can look beyond currency and see the useful applications for blockchain innovation. Understanding and awareness of blockchain can only be good for the future of Bitcoin.

To me, what's "sadder" is that anyone now can learn how to launch a new token, blockchain or ICO, add on a "blockchain" tag to their creative marketing solution, and that qualifies as fintech startup. Simply adding blockchain to your company sounds like what companies did in the 1990s, buying a dot com or even just naming their companies... X dot com. I shudder to remember those times.

[xFiber]

This goes to show that investors who are quite harsh on bitcoin and cryptocurrencies based on blockchain technologies, actually feel like they're missing out at this point. The reason this stock went up, regardless of the service/business model it provides, is propably due to investors hoping to have found the new bitcoin and want to go 1000x in a couple of years.

[gentlemand]

Didn't the SEC shut down some company that glued Bitcoin or Blockchain to their name a while back? I can't quite remember the details but it was exploding in price for no good reason. 

Even after all this time if you asked most people who are shouting 'blockchain' what they intend to use it for they'll just give you a blank look and shuffle away.