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Ice Tea Company Rebrands as 'Long Blockchain' and Stock Price Triples (arstechnica.com)

Posted by msmash on from the not-the-onion dept.

The Long Island Ice Tea Corporation is exactly what it sounds like: a company that sells people bottled iced tea and lemonade. But today the company announced a significant change of strategy that would start with changing its name to "Long Blockchain Corporation." From a report: The company was "shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology," the company said in a Thursday morning press release. "Emerging blockchain technologies are creating a fundamental paradigm shift across the global marketplace," the company said. The stock market loved the announcement. Trading opened Thursday morning more than 200 percent higher than Wednesday night's closing price. The company isn't getting out of the iced tea business. "The Company will continue to operate Long Island Brand Beverages, LLC as a wholly-owned subsidiary," the company writes in its press release. The new blockchain efforts are only in their "preliminary stages," the press release says, and will likely involve investing or forming partnerships with other companies. One potential partner is providing "blockchain infrastructure for the financial services industry." Another is building a "new smart contract platform for building decentralized applications."

7 of 144 comments (clear)

  1. Fools and Money. by Zorro · · Score: 5, Insightful

    Soon to be separated.

    1. Re:Fools and Money. by Bruce+Perens · · Score: 5, Funny

      Because of this obvious opportunity, for the next several months I will be referred to as "Bruce Blockchain Blockchain Blockchain Millionare Billionare Perens"

      --
      Bruce Perens.
  2. New investment opportunity by nwaack · · Score: 5, Funny

    Hi all, I'm starting a new company called Super-awesome-blockchain-bitcoin-make-you-money-LLC. I'm still in the "preliminary stages" of setting up said company but it's gonna be awesome. You can send all your money to me at my P.O. Box. ~SMH

  3. Artificial Intelligence Poetry by PopeRatzo · · Score: 5, Funny

    "Emerging blockchain technologies are creating a fundamental paradigm shift across the global marketplace,"

    The jargon is strong with this one.

    --
    You are welcome on my lawn.
    1. Re:Artificial Intelligence Poetry by FFOMelchior · · Score: 5, Funny

      I don't know. Could use more synergy.

  4. Blockchain will revolutionize Ice Tea by JoeyRox · · Score: 5, Funny

    A QR code on the container will tell you the source of every tea bag used to create your drink, and also tell you who was tea bagged buying the company's stock.

  5. Re:Reminds me of Snap Interactive isn't Snap Inc. by DarkOx · · Score: 5, Informative

    15% own stocks DIRECTLY. Much much larger percentages of the public have mutual fund holdings, often in IRAs or 401ks.

    That 15% number is talking point for people with a political agenda, and has little relationship with reality.

    Note I am not saying the 401K and IRA schemes are models of good public policy just that its not true only 15% of Americans 'own' stocks.

    --
    Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html