This grab-and-go beverage company is now 'pivoting to blockchain'

Long Island Iced Tea.
(Image credit: Facebook/Long Island Iced Tea)

With just days left before the end of the year, 2017 went ahead and outdid itself. The non-alcoholic New York-based drink manufacturer The Long Island Iced Tea Corporation announced Thursday that it will change its name to Long Blockchain Corp. and shift towards an "exploration of and investment in opportunities that leverage the benefits of blockchain technology." The decision sent shares skyrocketing 432 percent before the opening bell, Business Insider reports; it opened around 200 percent.

Long Blockchain Corp. "intends to request Nasdaq to change its trading symbol" but will "continue to operate Long Island Brand Beverages … and maintain the focus of this business on the ready-to-drink segment of the beverage industry," the press release says before going on to explain the seemingly perplexing "focus in blockchain":

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