Shares initially climbed 19 percent shortly after the announcement, but Friday’s spike marks the largest single-day gain for the small company since its December 1996 listing.
“Blockchain technology and cryptocurrencies are a new and exciting area we have been working on for some time,” the company said in a statement Thursday, according to Bloomberg. “We feel the time is right to re-name the company to reflect these developments, where we believe the future growth will be in our sector.”
Despite the rise in popularity, the company cautioned investors its blockchain product is still in early development stages.
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