Sometimes business success can be very, very simple: a bit of a Bitcoin allusion – and the cashier is already ringing.
Thanks to the hype surrounding crypto currencies, a US beverage producer has achieved a terrific stock market success. And that by the mere renaming of the company!
Recently, the Long Island Iced Tea Corp (making iced tea and sodas) from Long Island in the US made losses. But after the company renamed itself into Long Blockchain Corp., the stock exploded!
On Wall Street, the price jumped nearly 200 percent on Thursday.
The beverage company announced at the same time with the renaming that its parent company wants to invest in digital currency technologies from now on. Although the plans were extremely vague (it is currently in an “early phase of exploring the possibilities,” it was said) – but the investors did not care. They bought what they could get.