Blockchain It! Companies Rename Themselves To Bump Up Share Price

JulienJ

Member
The craze continues as companies begin changing their name to include the word “Blockchain” and watch their share price soar. As The Verge reports, a spate of renaming shenanigans has seen Long Island Drinks Corp become Long Blockchain, immediately causing its stock to surge 200%.

Likewise, a California-based vaping startup Vapetek changed its name to the unlikely Nodechain, while offering only vague promises about its Blockchain-inclusive future plans.

The practice continues what has become a curious phenomenon. In October, Cointelegraph reported on how a veteran yet little-known UK telecommunications company reinvented itself as a notionally Blockchain-centric outfit, adding the term to its company name. Its stock swiftly took off, jumping from £15 ($20) to a high of £84 ($112) in days.

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