Iced Tea Company's Stock Soars 500% After Name Change

22 December, 2017, 01:11 | Author: Lester Mason
  • At This Price, Is It Too Late To Buy Long Island Iced Tea Corp. (LTEA)?

The stock surged almost 200% on the news.

Long Island Iced Tea is a company which focuses on, you guessed it, iced tea (and other ready-to-drink non-alcoholic beverages) and that doesn't immediately scream blockchain technology to me, but the connections between the two do not seem to matter to everyone else. Diagnostic company Bioptix's shares soared 400 percent after it changed its name to Riot Blockchain RIOT.O in October.

Interest in cryptocurrencies, which are unregulated by any central bank, caught fire this year.

Shares first spiked Tuesday after chatroom traders listed it the only China bitcoin play approved to connect all distributed networks and apps.

Regulators have warned that retail investors could fall victim to fraudulent or unscrupulous schemes riding the wave of public interest in the new phenomenon.

Long Island Ice Tea Corporation is now Long Blockchain Corporation, Ars Technica reports.

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Notably, management has not yet secured an agreement with any blockchain entities, and it intends to retain Long Island Brand Beverages as a wholly-owned subsidiary.

Though the company says it doesn't have any agreements in place, the company has switched its domain to and the new site says Long Blockchain is in the "preliminary stages of evaluating specific opportunities".

Bitcoin? Blockchain? A guide to digital currency What's behind bitcoin's dramatic rise? (NASDAQ:LTEA) announced that it is planning on changing its name to Long Blockchain Corp.

In an unrelated statement on Thursday, the US Financial Industry Regulatory Authority, a private industry body with regulatory power, warned about potential scams given the explosion of interest in bitcoin.

And two tiny penny stocks, tobacco company Rich Cigars and e-cigarette firm Vapetek, shot up after saying they were now blockchain companies too.


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