The British company, which is engaged in venture capital investments in Internet startups and information projects, celebrates a record of registrations. On-line Plc jumped 394 percent on Friday after announcing plans to change its name on On-line Blockchain Plc. This is the biggest one-day win for a small-cap company since its inception in December 1996. The volume of trading, which by the beginning of the second half of the day in London reached 2.9 million shares, exceeds annual volumes by more than 16 times in the last two days.
"The Blockchain and Cryptocurrency technology is a new and exciting area, over which we have been working for a while," the company said in a statement on Thursday. "We believe that the time has come to rename the company to reflect these developments, and we believe that soon there will be huge growth in our sector."
Shares fell in price after the company published another statement on Friday, warning investors that the development of their blockchain product is still at an early stage. Nevertheless, the 238-percent growth at 2:36 pm in London leaves the company’s market value at 4.4 million pounds (5.8 million dollars) at the highest level since 2005.
This is not the first time that investors are delighted with just one name. Shares in Bioptix Inc. in Colorado almost doubled in value on the days before the change in the name of the company Riot Blockchain Inc. at the beginning of this month. Blockchain is a promising technology that is rapidly moving towards success. A lot of entrepreneurs and venture investors are ready to invest only in the very idea of blockchain, believing in the bright future of technology.