At the peak of the tech bubble, adding an ‘e-‘ prefix or ‘.com’ suffix caused the valuations of companies to jump multifold. During this Bitcoin bull run, adding ‘Blockchain‘ seems to have the same effect.
On-line Plc or On-line Blockchain Plc?
On-line Plc is a small, nondescript company in the UK, which has been listed in London since 1996. The Company started as a holding company for a group which developed multiplayer computer games for the internet, and has gradually transformed into a technology investment company.
On 26-Oct-17, the Company announced its intention to change its name from On-line Plc to On-line Blockchain Plc. The Company stated that it had been working for some time to provide systems to support the roll out of Blockchain technologies across a range of applications.
The decision of the Company to change its name provided a boost to the share price, resulting in the Company gaining 19% on Thursday. This turned out to be pretty insignificant, compared to what happened on Friday. The share price of the Company increased by 400%, from 17p the previous day to 84p. Shares closed the day at 46.50p, a 173% gain over the previous day’s close. The volume traded on Friday was multiple times the yearly trading volume of the Company…