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Share Rating Recap: Long Island Iced Tea Corp (LTEA)

24 December 2017, 12:57 | Marta Robbins

Share Rating Recap: Long Island Iced Tea Corp (LTEA)

Share Rating Recap: Long Island Iced Tea Corp (LTEA)

Each of these companies' shares have experienced a significant boost after changing their name and announcing their shift. Long Blockchain will continue to make iced tea, but it will also go into "blockchain infrastructure for the financial services industry".

Blockchain, the technology behind the current cryptocurrency craze.is a ledger sheet where transactions involving bitcoin, litecoin and other digital currencies are recorded.

But apparently the CEO also wants the iced tea brand-which plans to change its name to Long Blockchain Corp. -to look into making acquisitions or finding development opportunities in blockchain.

Watson, whose fortune was estimated at $420 million in the National Business Review Rich List this year, entered into an agreement in early 2015 to merge his United States dairy farming venture Cullen Agricultural with the Long Island Iced Tea corp.

Though the company says it doesn't have any agreements in place, the company has switched its domain to http://www.longblockchain.com and the new site says Long Blockchain is in the "preliminary stages of evaluating specific opportunities".

Nokia 6, Nokia 9: The company's early 2018 offerings
Furthermore, the smartphone could feature dual-lens camera setup with Carl-Zeiss optics, 6GB RAM, and 128GB internal memory. It seems that these could be the five variants of the upcoming 4G Nokia feature phone will be heading to different markets.

Long Blockchain corp will still be creating beverages.

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".

It's unclear what actions, if any, the SEC would take for Long Blockchain, however. At least, it was before Wednesday, when the company announced a pivot to blockchain, the technology that underpins Bitcoin.

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



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