Lucinda Shen
Lucinda Shen 2018年4月13日
The blockchain carnage continues.
Long Blockchain, a former iced tea maker that announced a move into the crypto space earlier this year, was delisted from the Nasdaq stock exchange on Thursday.
Now the company once valued at as much as $95 million in market value during the peak of Bitcoin fervor last December is trading 92% lower on less regulated and less prestigious over-the-counter markets at a value of $7.4 million. To remain on the Nasdaq, Long Blockchain needed to maintain a market capitalization of more than $35 million for at least 10 days. But the company failed to meet that condition.
During the Dot-com boom, companies added dot.com to their names in a bid to attract investors. Now that investors are wondering if blockchain will be the next big idea, a wave of firms are also adding that word back to their business cards. Camera maker Eastman Kodak for instance announced plans to launch its own cryptocurrency, while a Hooters investor announced plans to used the blockchain for it loyalty program in December.
But these entries into blockchain have been met with skepticism, and questions as to the sincerity of these so-called strategic pivots.
“If you are fortunate enough to get a borrow, indeed Longfin is a pure stock scheme,” Short seller Andrew Left of Citron Research wrote in a tweet last month about Longfin, another company that had jumped on the crypto bandwagon. “@sec_enforcement should not be far behind. Filings and press releases are riddled with inaccuracies and fraud.”
And now stocks that moved into blockchain are taking a beating. A week ago, the Securities and Exchange Commission charged Longfin-related individuals with unlawfully selling restricted shares to the public. Investors however haven’t been able to exit the stock, as the Nasdaq issued a trading halt, dubbed the T12, that could last months.
Even as the waters remain testy for the recent blockchain initiate, Long Blockchain says it still plans to acquire a U.K.-based blockchain and cryptocurrency developer, Hashcove.
“Long Blockchain’s transition to the over-the-counter market does not diminish the focus of its efforts to become a leader in blockchain technology,” it wrote in a press release addressing the delisting.
Still, the price of Bitcoin—which has become a proxy of sorts for excitement surrounding the blockchain—has begun to show signs of life for investors after a rough start to 2018. The value of the asset rose 17% to above $8,000 Friday, which is still well belowits $14,000 value when it started the year.
blockchain大屠杀仍在继续。长的blockchain，前冰茶制造商宣布进入加密空间，今年早些时候，在从纳斯达克退市股票交易所星期四。在去年十二月比特币热潮高峰期，该公司市值一度高达9500万美元，在监管不太严格、不那么有声望的场外交易市场中，价值为740万美元的交易额较低92%。保持在纳斯达克，长链需要保持至少10天一个市值超过3500万美元。但该公司未能满足这一条件。在互联网繁荣时期，企业加入网络为了吸引投资者，他们的名字。现在投资者都知道如果blockchain将是下一个大创意，一个波的公司也加入到他们的名片，字。相机制造商伊士曼例如柯达宣布计划推出自己的cryptocurrency，而猫头鹰投资者宣布计划使用blockchain在十二月它的忠诚度计划。但这些条目到blockchain已遭到质疑，问题是这些所谓的战略支点的诚意。“if你有幸获得借款，事实上Longfin是一个纯股票方案，”卖空者安德鲁·莱福特香橼研究写在推特上个月在Longfin，另一家公司，就跳上了密码的行列。“ @ sec_enforcement应该不远了。文件和新闻稿中充斥着错误和fraud.”现在股票进入blockchain是挨打。一周前，美国证券交易委员会指控及相关个人非法出售限售股份给公众。然而haven’t投资者能够退出股票，作为纳斯达克发出暂停交易，称为T12，这可能会持续几个月。尽管水域仍然暴躁的最近的blockchain发起，Long Blockchain说，它还计划收购英国的开发商和cryptocurrency blockchain，Hashcove。“long blockchain’s过渡到场外市场不会削弱其努力成为在blockchain技术领先的重点，”在新闻稿解决退市了。不过，比特币成为兴奋blockchain代理各种各样的开始2018艰难开始后显示投资者的生命迹象的价格。该项资产的价值上升17%至8000美元以上，星期五，它仍然是belowits价值14000美元，当它开始的一年。
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