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.

https://www.coindesk.com/nasdaq-delist-long-blockchain-appeal-fails/

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: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, balance, CFTC, checkbook, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, FINRA, Funding Portals, review, SEC, technology, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

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