Iced Tea Firm’s Shares Quadruple After Changing Name to ‘Long Blockchain Corporation’
A small U.S. beverage company’s share price has increased by more than 400% in a single day after rebranding to include the word ‘blockchain’ in its name. The company, formerly known as Long Island Iced Tea Corp, is now called Long Blockchain Corporation. A Hong Kong-based beverage company formerly-named Skypeople Fruit Juice has also seen a dramatic spike in share price since rebranding to Future Fintech Group earlier this year.
Long Blockchain Corporation’s Share Price Increased by 432% in a Single Day After Rebranding
Iced Tea Firm's Shares Quadruple After Changing Name to 'Long Blockchain Corporation'The company has stated that although it will continue to produce iced tea-based beverages, it is “shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology.”
The company’s chief executive officer, Philip Thomas, stated “We view advances in blockchain technology as a once-in-a-generation opportunity, and have made the decision to pivot our business strategy in order to pursue opportunities in this evolving industry. We will, in the coming weeks and months, be taking a series of steps related to our efforts to assemble a world-class team of industry professionals to help us realize this vision. We are pursuing our new direction in a thoughtful and deliberate manner.”
SOURCE:
https://news.bitcoin.com/iced-tea-firms-shares-quadruple-changing-name-long-blockchain-corporation/
