Green is the new crypto for corporate rebranding
Companies that gave themselves new names linked to sustainability between 2000 and 2022 enjoyed one-day returns of 15%, on average, according to a study
Add BT as a preferred source
A FUN thing about the dotcom and crypto booms was how companies with no previous connection to dotcom or crypto added those terms to their names and watched their stock prices soar.
Perhaps the greatest example is Long Island Ice Tea Corp rebranding as Long Blockchain Corp in 2017, with a promise to shift from making Arnold Palmers to making crypto. This resulted in a 300 per cent rally, years of investigations and no crypto.
In what may be a hopeful sign for the climate, if not for investors, it turns out green rebranding can also move stock prices.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature
