Urban Tea Undergoes Corporate Rebranding, Changes Name To Bit Brother Limited

Urban Tea Inc (NASDAQ:MYT) said it would change its name to Bit Brother Limited, effective June 16, 2021.
The company will trade under the ticker symbol ‘BTB’ along with the name change.
“We plan to seize this opportunity and move forward as planned, contributing human resources, material resources, and capital to develop blockchain-based software, applications, and service systems,” said Xianlong (Jack) W, Chief Executive Officer.
Urban Tea’s business consists of the distribution and retail of specialty tea products, and it has decided recently to start operations in blockchain technology and cryptocurrency mining.
Price action: MYT shares are trading lower by 5.65% at $2.17 on the last check Tuesday.