Long Island Iced Tea Becomes ‘Long Blockchain,’ Triples in Value

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Blockchains. Yes, those. You don’t know what they are. I don’t know what they are. They seem to be valuable, because Long Island Iced Tea Corporation renamed itself as Long Blockchain Corporation and tripled its stock value on Thursday (the price has come back down a bit on Friday).

Long Blockchain is only the latest company to see its value skyrocket after adding “blockchain” to its moniker, according to Ars Technica. The publication notes this is similar to how companies in the late 1990s increased their stock prices simply by adding “.com” to their names. Nothing bad happened as a result of that strategy, right?

Reading the full article here