|Bid||2.7400 x 400|
|Ask||2.8100 x 100|
|Day's Range||0.3600 - 0.4100|
|52 Week Range||0.0500 - 0.8500|
|Beta (3Y Monthly)||0.36|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Wall Street loves a good reinvention story. Consider the disclosure Vancouver firm ECC Ventures 2 Corp. filed Wednesday outlining its acquisition of Long Island Beverages Corp. It’s paying 8.3 million Canadian dollars ($6.2 million) in stock and cash for a drink business valued as high as $67 million about a year ago. Shares surged in December of 2017 when executives changed the company name to Long Blockchain Corp., tapping into euphoria surrounding digital currencies.
Long Blockchain Corp. (LBCC) (“Long Blockchain” or the “Company”) today announced that it has executed an agreement for a joint venture (the “Joint Venture”) with EHCo LLC, a holding company and the parent of Entrex Capital Market (“Entrex”), to scale Entrex’s industry leading blockchain-enabled alternative trading market. The Joint Venture will provide a blockchain-enabled alternative trading platform for international and domestic investors to find, research, track, manage, trade, settle and service various asset classes. The Joint Venture will be led by Stephen H. Watkins, who has founded multiple businesses that use technology to consolidate decentralized business sectors.
Marijuana stock fever is in full swing. Until recently, just a few major marijuana stocks attracted most speculative interest, with Canopy Group Corporation (NYSE:CGC) and Tilray (NASDAQ:TLRY) leading the charge. There’s no guarantee that the marijuana stock craze will end up the same way.
Covee Network is the latest venture to announce a partnership with an economist of the highest standing: game-theory and market design expert Alvin Roth, who shared the economics Nobel in 2012. A year ago, just uttering the word “blockchain” was enough to spark interest. Photography pioneer Eastman Kodak Co. last year had a brief return to fame, and a 272 percent share-price jump, after a cryptocurrency licensing its name was announced.
The blockchain is one of the most powerful innovations of the last several decades. Riot Blockchain (NASDAQ:RIOT), however, is nearly an unmitigated disaster. Right before the weekend, RIOT stock closed down more than 24%.
At the beginning of 2018, when bitcoin prices were still right around $17,000, I laid out a pretty straightforward thesis on blockchain stocks. Blockchain, the decentralized technology underlying bitcoin, has broad and meaningful applications across multiple industries. In the near future, the decentralization principles underpinning blockchain will fundamentally change the way many of those industries operate.
Investors interested in trendy cryptocurrency- and blockchain-related stocks were paying close attention to Longfin Corp. (LFIN) on Tuesday morning after a judge apparently vacated a Temporary Restraining Order (TRO) that froze the assets of the controversial company.