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Long Blockchain Corp. will no longer trade on Nasdaq after cryptocurrency pivot results in delisting

Company shifted focus from beverages such as tea to crpytocurrency mining

The shares plunged 37% on the news

Long Blockchain Corp.(NASDAQ:LBCC), the beverage company that pivoted into blockchain technology, will no longer trade on the Nasdaq after receiving a delisting letter from the exchange.

The firm, formerly known as the Long Island Iced Tea Corp., in December changed its name in a bid to shift its business focus to investing in technologies behind cryptocurrencies. On the day of the switch, the shares of the company surged 183% to a high of about US$7.00. The stock today dropped 37% to US$1.10 at 4:10 p.m.



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