Ex-Beverage Maker Faces Nasdaq Delisting

Long Blockchain’s stock price is in free fall following the announcement that its shares are set to be delisted from the Nasdaq Stock Market.

Shares for the ex-beverage producer (LBCC) — formerly known as Long Island Iced Tea — closed at $1.10 on Wednesday, representing a single-day decline of 37 percent and an 88 percent plunge from their high-water mark in December. Long Blockchain shares had been trending down since the start of the year, owing to the fact that — like other firms that had made dubious pivots into the blockchain space — it has operated largely as a proxy stock for the cryptocurrency industry.

Reference: https://www.ccn.com/long-blockchain-stock-price-fizzles-as-ex-beverage-producer-faces-nasdaq-delisting/

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