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Cryptocurrency stocks still holding gains despite 30% fall in bitcoin

An analysis of 17 stocks of companies that have made blockchain or cryptocurrency announcements showed an average gain of 224 percent through Thursday's close from they released those statements

Reuters  |  NEW YORK 

Stocks that surged in recent weeks because of the cryptocurrency mania have managed to hold onto most of their gains despite the recent retreat in the price of bitcoin and scepticism from market participants. A Reuters analysis of 17 stocks of companies that have made blockchain or cryptocurrency announcements showed an average gain of 224 percent through Thursday's close from they released those statements. For example, shares of Long Island Iced Tea Corp jumped nearly 300 percent on Thursday after the beverage maker said it would rename itself Long Blockchain Corp to ...

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First Published: Mon, December 25 2017. 09:20 IST
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