Long blockchain stock symbol
The company said it planned to sell the beverage business but the sale hasn't closed. The SEC order, effective Monday, cited the "protection of investors" and Long Blockchain's failure to file annual reports since one covering calendar and quarterly reports since the one for the period ended Sept. Despite the Farmingdale company's name change in December , its "blockchain business never became operational," the SEC said. The SEC filing said the regulatory agency agreed to a settlement offer from Long Blockchain, but did not provide details on the scope of the case.
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- Long Island Iced Tea shares went gangbusters after changing its name to Long Blockchain
- Why interest rates, stocks and crypto are sometimes correlated
- Bitcoin plunges: A bust or a buy?
- LONG BLOCKCHAIN CORP
- Today's Cryptocurrency Prices by Market Cap
- Long Island Iced Tea changes name to Long Blockchain; stock jumps more than 200%
- Iced Tea Company That Pivoted to Blockchain Has Its License Pulled by the SEC
- Long Island Iced Tea Corp renamed itself to Long Blockchain – and its shares went bananas
- Long Island Iced Tea’s Stock Price Up 432 Percent After It Pivoted to Blockchain
- Companies ‘Pivoting To Blockchain’ See Huge Stock Spikes — But Does The Hype Hold Up?
Long Island Iced Tea shares went gangbusters after changing its name to Long Blockchain
Months ago, the beverage company made headlines when it abruptly renamed itself Long Blockchain. Detractors said the flailing company was trying to capitalize on the fervor over cryptocurrencies. Sure enough, upon changing its name, Long Blockchain's stock price skyrocketed. Now, Nasdaq is accusing Long Blockchain of lying to its investors, and is making moves to delist the company.
As it is, Long Blockchain "remains out of compliance with Nasdaq's rules for market value requirements," according to a report by CoinDesk. Long Blockchain has until April 9 to meet these requirement. At its peak, the stock traded for more than double that amount. Long Blockchain turned heads when it abruptly announced plans to change its focus from beverages to blockchain in December Given the sudden nature of the shift and inconsistencies regarding the company's market cap and information related to investors, Nasdaq says it has reason to be concerned about the company's honesty.
For its part, Long Blockchain is not taking the news that Nasdaq aims to delist it from the exchange lightly. The company is appealing the delisting decision. According to a letter from February 21, Long Blockchain believes Nasdaq "had determined to delist the Company's securities. The company added that "the notification letter stated that the Staff believed that the Company made a series of public statements designed to mislead investors and to take advantage of general investor interest in bitcoin and blockchain technology, thereby raising concerns about the Company's suitability for exchange listing.
Long Blockchain said it "strongly disagrees" with that determination, and has appealed Nasdaq's decision to a hearings panel. However, because of its sputtering market cap, even if Long Blockchain wins the appeal regarding having misled investors, it may still be delisted for other reasons. Investing in cryptocurrencies and other Initial Coin Offerings "ICOs" is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs.
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Why interest rates, stocks and crypto are sometimes correlated
As China abandons crypto mining, what new opportunities abound in , and is RIOT stock now buy, sell or hold? RIOT, a bitcoin miner, trades on the Nasdaq, after changing its name from Bioptix, a biological sciences technology company with one registered veterinary patent, and switching operations in October The share value has already contracted by A slight rise in the stock on 24 January implies that investors could be further enticed by these technicals. RIOT Blockchain deployed around 8, application-specific integrated circuit ASIC miners at its cryptocurrency mining facility in Oklahoma for release in early , helping their total exceed 15,
Bitcoin plunges: A bust or a buy?
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LONG BLOCKCHAIN CORP
But sales of thousands of shares by the CEO and a key investor have raised red flags among skeptics. Riot plunged into its new game plan , investing in blockchain companies, purchasing coin mining equipment souped-up computers and buying bitcoins at auction. Stock watchers wondered whether to trust a company doing such a serious — a road also taken by an iced tea maker , a sports bra developer and even Kodak, the old photography company. Shareholders who had stuck with the waning biotech firm were rewarded. When insiders sell, take a hint that you should too, said many critics, including Motley Fool.
Today's Cryptocurrency Prices by Market Cap
Subscriber Account active since. Bitcoin often dominates the financial news, riveting investors with its volatile price swings and appreciation potential. Getting far less attention, though, is blockchain, the database technology on which the cryptocurrency rests. A blockchain is like an electronic ledger. Data can be entered into it, but cannot be altered or erased, giving it its much-celebrated property of permanency and implied integrity.
Long Island Iced Tea changes name to Long Blockchain; stock jumps more than 200%
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Iced Tea Company That Pivoted to Blockchain Has Its License Pulled by the SEC
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Long Island Iced Tea Corp renamed itself to Long Blockchain – and its shares went bananasRELATED VIDEO: I Sold My Crypto - Why and What I Expect From Here 😱
In a move that caused double takes on Wall Street trading floors and prompted comments on Twitter about how this must be the top of bitcoin mania, a little-known micro-cap stock called Long Island Iced Tea Corp. Shares closed up percent. The Farmingdale, New York-based beverage maker said in a release that it is "shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology. The company, however, is still going to make iced tea and other juice beverages, it said.
Long Island Iced Tea’s Stock Price Up 432 Percent After It Pivoted to Blockchain
Have you read these stories? ET NOW. From ecommerce to movies, the potential of Web3 in the digital ecosystem NFTs, which have been largely seen as art and collectibles so far, will move to showcasing the power of this technology layer. The year of the Doge? And bitcoin and its kin were rarely out of the spotlight since, with the language of crypto becoming firmly entrenched in the investor lexicon. Social media firms are publishers, says Chandrasekhar; NFTs fuel digital renaissance In the eyes of Rajeev Chandrasekhar, union minister of state for electronics and IT, Facebook, Twitter and others are in fact publishers and must be held accountable for the content they host. All News Videos.
Companies ‘Pivoting To Blockchain’ See Huge Stock Spikes — But Does The Hype Hold Up?
The frenzied buying and selling of cryptocurrencies remain unstoppable — and the hype will likely grow even further as several futures-based Bitcoin ETFs have come to life. The SEC had been hesitant to approve Bitcoin ETFs prior to that — in July there were said to be as many as 13 applications waiting for the regulator's blessing. It's one that has been a long time in the making, too. As early as , the Winklevoss twins, founders of the Gemini cryptocurrency exchange, looked to start a Bitcoin ETF but were unsuccessful.