Instant Alert: 7 companies whose stocks surged — then slumped — after jumping on the crypto bandwagon

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   7 companies whose stocks surged — then slumped — after jumping on the crypto bandwagon by Graham Rapier on Dec 22, 2017, 2:08 PM Advertisement Bitcoin is in the midst of its worst weekly sell off since 2013, and almost every other major cryptocurrency slumped on Friday.  That’s especially bad news for the handful of companies who recently announced a pivot to blockchain or another crypto focus. Their stock prices skyrocketed after announcing their pivots to the red-hot space, but most have settled back down — some even lower than where they were trading ahead of the announcements.   Business Insider rounded up the companies who recently announced pivots to see how much the share prices initially jumped — and where the dust settled after Friday's slump: SEE ALSO: Subscribe to our Crypto Insider newsletter for the best of the blockchain every day. Bioptix Ticker: RIOT New name: Riot Blockchain New focus: Blockchain Initial spike: +375% Current price: $22.92 Change since announcement: +278% Full story>> World Poker Fund Holdings Ticker: WPFH New name: n/a New focus: The company acquired a digital cryptocurrency wallet.  Initial spike: +100% Current price: $0.43 Change since announcement: -5.88% Full story>> The Long Island Iced Tea Corporation Ticker: LTEA New name: Long Blockchain New focus: "The exploration of and investment in opportunities that leverage the benefits of blockchain technology. Initial spike: +432% Current price: $5.71 Change since announcement: +146.53% Full story>>> See the rest of the story at Business Insider   Share the latest business news with your network:    Email sent to: nguyenvu1187.love5@blogger.com   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011