Market Overview

The 4 Latest Blockchain Plays

The 4 Latest Blockchain Plays

ChinaCache International Holdings Ltd (NASDAQ: CCIH) popped 18 percent, NQ Mobile Inc (ADR) (NYSE: NQ) 17 percent and Future Fintech Group Inc (NASDAQ: FTFT) 19 percent Thursday on their respective blockchain reports.

But none posted a run nearly as spectacular as Long Island Iced Tea Corp (NASDAQ: LTEA), which struck all-time highs on a 528-percent spike.

Long Island Iced Tea

The well-established beverage firm announced an abrupt change in focus favoring blockchain technology. It even rebranded to “Long Blockchain Corp.,” reserved the affiliated web domain, and announced plans to seek a ticker change to accommodate the shift.

Notably, management has not yet secured an agreement with any blockchain entities, and it intends to retain Long Island Brand Beverages as a wholly-owned subsidiary.

ChinaCache International

Shares first spiked Tuesday after chatroom traders listed it the only China bitcoin play approved to connect all distributed networks and apps. ChinaCache has seen volatility since the report.

Future Fintech Group

A CNBC source mentioned Future Fintech as a possible blockchain play on Tuesday, and the stock has rallied ever since. It now trades up 126 percent over its pre-announcement value.

NQ Mobile

Rosenblatt Securities issued a pre-market note suggesting NQ’s potential to become a “several hundred-million dollar revenue business” over the next few years on its Link Motion technology, which involves the internet of vehicles and blockchain.

Related Links:

Want Your Stock To Rally? Just Mention ‘Bitcoin’ Or ‘Blockchain’

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Posted-In: Blockchain Philip ThomasNews Legal Pre-Market Outlook Movers Best of Benzinga


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