The producer of cold tea changed its name to “Long Blockchain” and received a three-fold increase in shares.
It doesn't look like a blockchain, definitely
The company Long Island Iced Tea Corporation has almost nothing to do with high technology. She is engaged in the production and supply of bottled cold tea and lemonade. But the leadership of the company, apparently, is not alien to the spirit of adventurism, since the other day it changed its name to "Long Blockchain Corporation."
They explained this all by the fact that the company decided to "shift the initial focus from just producing tea to exploring the possibilities of blockchain technologies." In any case, it was stated
in a press release.
The move was clearly successful, since almost immediately after this announcement, the company's shares grew by about 200% compared with the previous day. Now the management declares that no one is going to leave the business of “cold tea”, Long Blockchain Corporation will do the same thing as its predecessor did. Nevertheless, the company plans to establish contacts with developers from the blockchain industry. It is planned to do this in order to explore the potential of the blockchain for financial services.
The company, by the way, is not the first, whose shares quickly grew after changing the name to something with the word “blockchain”. For example, one of the biotechnology companies secured a multiple increase in shares after the name was changed to “Riot Blockchain.”
Actually, all this looks like a “golden era” of dotcoms, when almost every self-respecting company considered it necessary to add to the name “.com”
in order to show that this company keeps up with the times.