Long Blockchain Corporation has received approval from NASDAQ to change it’s ticker symbol to “LBCC“. Previously, the ticker was “LTEA” and more indicative of its prior corporate name “Long Island Iced Tea” corporation.
Last month, the company announced its intent to change its name to Long Blockchain Corporation as it decided to focus on developing and investing in globally scalable Blockchain technology. Following the announcement, shares in the company soared tripling in value. At one point the intraday high topped $9 a share.
The euphoria associated with the name change to incorporate “Blockchain” is indicative of excitement surrounding distributed ledger technology that is poised to disrupt existing financial services and much more.
The company states that Blockchain technology is fundamentally changing the way people and businesses transact and wants to be at the forefront of the industry, actively pursuing opportunities.
The company currently owns the Long Island Brand Beverages, LLC that produces a non-alcohol ready-to-drink segment of the beverage industry under the brand ‘The Original Long Island Brand Iced Tea’.