The producer of cold tea changed its name to “Long Blockchain” and received a three-fold increase in shares.

It does not look like a blockchain, unequivocally

The Long Island Iced Tea Corporation company has practically nothing to do with high technology. She is engaged in the production and supply of bottled cold tea and lemonade. But the company’s leadership is apparently no stranger to the spirit of adventurism, since the other day it changed its name to Long Blockchain Corporation.

They explained this by saying 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 rose 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. 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 stocks 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.