Textbook Case of Crypto Hype: How Iced Tea Company Went Blockchain and Failed Despite a 289 Percent Stock Rise

On March 6, Long Blockchain Corp., previously known as Long Island Iced Tea, reached an agreement to sell its beverage business.

In December 2017, the firm rebranded itself to focus on blockchain development and enjoyed a 289 percent boost in its stock. Since then, it has been delisted from Nasdaq, hit with a subpoena by the Securities and Exchange Commission (SEC), made (and then cancelled) mining-related plans, and limited its blockchain endeavors to one minor investment.

Background: fairly successful iced tea company capable of securing a Nasdaq spot

Long Island Iced Tea Corp was founded in Hicksville, New York in Ju