$24 million iced tea company says it's pivoting to
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Posted On: 04/30/2018 3:50:21 PM
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$24 million iced tea company says it's pivoting to the blockchain, and its stock jumps 200%
Farmingdale, New York-based beverage maker Long Island Iced Tea says it's changing its name to "Long Blockchain Corp." as it shifts its focus to investing in the technology behind bitcoin.
Shares soar 200 in the open percent, although the company says it's only in the "preliminary stages" of evaluating potential business opportunities in blockchain.
The company said it's still going to make iced tea and other juice beverages. As of Wednesday, it had a market value of just $23.8 million.
https://www.cnbc.com/2017/12/21/long-island-i...soars.html
Farmingdale, New York-based beverage maker Long Island Iced Tea says it's changing its name to "Long Blockchain Corp." as it shifts its focus to investing in the technology behind bitcoin.
Shares soar 200 in the open percent, although the company says it's only in the "preliminary stages" of evaluating potential business opportunities in blockchain.
The company said it's still going to make iced tea and other juice beverages. As of Wednesday, it had a market value of just $23.8 million.
https://www.cnbc.com/2017/12/21/long-island-i...soars.html
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