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
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.
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