Nasdaq To Delist Long Blockchain

Remember the iced tea company that changed its name to include “blockchain” and had its stock soar 183%?

Well, Long Blockchain, formerly Long Island Iced Tea Corp. is now being delisted from Nasdaq because its stock’s market cap is below the Nasdaq’s required $35 million.

With Bitcoin’s price dropping 50% this year and an SEC crackdown on initial coin offerings, the bloom is sort of off the rose for crypto-currency companies (or those with crypto-type names).

The company’s shares will continue to trade on the over-the-counter market for those who want some liquidity.

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
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