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Iced Tea Company Changes Name to "Long Blockchain", Stock Immediately Skyrockets

Iced Tea Company Changes Name to

But today, the company announced a change of strategy that would start with a new name: "Long Blockchain Corporation".

During the internet bubble, some companies were able to boost their stock prices simply by inserting a "dot-com" in their names or, virtually overnight, refashioning themselves as e-commerce companies.

Firms like Long Island Iced Tea (which this week declared that it would rebrand as "Long Blockchain Corp"), Riot Blockchain and LongFin are down, according to available market data.

Blockchain is the ledger technology upon which bitcoin and other cryptocurrency transactions are lodged.

In a press release, Philip Thomas, the CEO of the NY company, assured folks they would still make drinks, stating the company was "incredibly proud of what we have accomplished in the beverage industry and we are committed to growing our business both on a national and global scale".

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Long Blockchain corp will still be creating beverages.

"The discussions are only in the preliminary stages but indicate the areas of focus for the company", it said "There is no assurance that a definitive agreement with these, or any other entity, will be entered into or ultimately consummated".

It follows a similar move by a British company in October, when On-line Plc announced plans to change its name to On-line Blockchain Plc, sending its share price soaring 394 per cent - the biggest one-day gain for the small-cap company since its first listing in 1996.

"We view advances in blockchain technology as a once-in-a-generation". The company could not be reached at this time and so far we have not heard back from the SEC for comment.

The company's stock rose 289% following the news, marking an 18-month high for the company, according to Nasdaq.



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