Failing Iced Tea Company Changes Name to Include Blockchain and Stock Soars 500%
The Long Island Iced Tea company was doing just over $1 million in revenues per quarter, bleeding out cash, losing money for shareholders hand over fist -- down 42% for the year. So they managed to take a short cut around all of those issues and simply rename the company to Long Blockchain Corp. and this has resulted in shares rising over 500% in pre market chicanery.