Another company has discovered the secret of how to send shares soaring overnight: simply add "Blockchain" to your name.
Telecoms investor Stapleton Capital changed its name to Blockchain Worldwide, more than doubling the value of its shares since yesterday by 130 per cent. Did someone say bubble?
The Brit biz will now switch its attention to making investments in the blockchain space.
"We have seen a number of very exciting blockchain opportunities in recent months and believe the underlying technology has the potential to disrupt many industries around the world," said chairman Jon Hale.
"This change in strategy, and name to change to reflect this, could generate significant shareholder value if we are able to acquire one or more of these fascinating nascent technologies."
But Stapleton, sorry Blockchain Worldwide, is not the first to cotton on to the benefits of a crypto rebrand.
In October, AIM-listed company On-line quadrupled its share value by becoming Blockchain PLC. While the Long Island Iced Tea Corporation put new meaning to the word pivot by Long Blockchain Corp. Shares subsequently rocketed more than 500 per cent.
Perhaps the fact shares only doubled for Stapleton Blockchain Worldwide, might be a sign the hype is slowing down... a bit. ®
For pity's sake, don't send your blockchain-BS emails to newsdesk or start a pitch: "We read your latest piece on Blockchain..."