This week, two beverage companies, Long Island Ice Tea Corp. and SkyPeople Fruit Juice, saw huge gains in profits after renaming their companies.
Long Island Ice Tea Corp, which specializes in iced tea and bottled lemonade, is now called Long Blockchain Corporation, and their beverage sales are up nearly 500% in the past two days.
Juice maker SkyPeople Fruit Juice, which rebranded as Future FinTech this past June, saw investment growth of more than 200% as of Monday, Dec. 18, according to FactSet.
Late October In 2017, the British investment company On-line Plc also added “Blockchain” to its name, after which the price increased fourfold. The company's market value was 4.4 million pounds sterling ($5.8 million). This was its highest figure since 2005.
At the beginning of this year in October, the share price of the Colorado company Bioptix Inc doubled when the name was changed to Riot Blockchain Inc.
It is not known how Blockchain is connected to the production of lemonade and whether these companies are going to change their activity profile. Another important thing is that the price of their shares grows, regardless of the quality of the goods and services they provide.
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