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Iced Tea Company Rebrands as “Long Blockchain” and Stock Price Triples

posted by mrpg on Friday December 22 2017, @02:06PM   Printer-friendly
from the soylent-blockchain dept.

jimbrooking and Freeman inform us of a story:

The Long Island Iced Tea Corporation is exactly what it sounds like: a company that sells people bottled iced tea and lemonade. But today the company announced a significant change of strategy that would start with changing its name to "Long Blockchain Corporation."

The company was "shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology," the company said in a Thursday morning press release. "Emerging blockchain technologies are creating a fundamental paradigm shift across the global marketplace," the company said.

[...] The company isn't getting out of the iced tea business. "The Company will continue to operate Long Island Brand Beverages, LLC as a wholly-owned subsidiary," the company writes in its press release.

[...] The former Long Island Iced Tea Company is following the lead of other companies that have seen their value skyrocket after announcing blockchain-related moves. One small financial technology company saw its value skyrocket after it announced a blockchain-related acquisition. In October, a biotech company saw its value skyrocket after it renamed itself "Riot Blockchain."

Iced tea company rebrands as "Long Blockchain" and stock price triples

$24 million iced tea company says it's pivoting to the blockchain, and its stock jumps 200%

Update: Bitcoin Tumbles Below $14,000 as Investors Face ‘Reality Check'

Original Submission

 
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  • (Score: 1, Interesting) by Anonymous Coward on Friday December 22 2017, @04:21PM (3 children)

    by Anonymous Coward on Friday December 22 2017, @04:21PM (#613238)

    > 4 years? 6 years?

    My impression is that the cycle time is getting shorter & shorter, driven by faster/wider communication. Or maybe it's being driven by shorter attention spans. Up until this bump with bitcoin & blockchain, it was looking like bad car loans were going to be a big factor in the next crash(?)

    Anyway, came here to say,
        Turtles are old hat, it's clearly tulips all the way down now
        (there isn't much of anything supporting the earth anymore).

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  • (Score: 2) by Gaaark on Friday December 22 2017, @06:25PM (1 child)

    by Gaaark (41) on Friday December 22 2017, @06:25PM (#613275) Journal

    Looking more like crying Snowflakes all the way down.

    --
    --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---

    • (Score: 1, Insightful) by Anonymous Coward on Friday December 22 2017, @06:53PM

      by Anonymous Coward on Friday December 22 2017, @06:53PM (#613295)

      I dunno, libertarians don't support much of anything let alone an entire world.

  • (Score: 2) by FatPhil on Saturday December 23 2017, @10:47AM

    by FatPhil (863) <reversethis-{if.fdsa} {ta} {tnelyos-cp}> on Saturday December 23 2017, @10:47AM (#613600) Homepage
    After checking lots of graphs, I think the balance between optimism and pessimism is pointing to about a 2-3 year range for the next crash. My favourite, 10s2s, has a long way to go before it turns the corner, which I think will be the best predictor.
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves