CryptocurrencyETH (Ethereum)

A 90-Year-Old NYSE-Listed Firm Changes Its Ticker From ETH

Ethan Allen Interiors Inc., a firm listed by NYSE (New York Stock Exchange), has altered its stock symbol as “ETD” from “ETH” to avoid being confused with Ethereum. This is another significant achievement on the part of Ethereum other than the frequently referred London hard fork as a company trading for more than 90 years had to change the stock symbol.

Ethan Allen (a furniture and home décor chain), which owns up to 300 stores around the United States, announced on 4th August that its stock symbol had been changed. It explained the new ticker by stating that the “D” in it is representing design and that the main concern about making this modification was to escape the confusion being created among the investors as well as to make sure that the keyword searches the required information on the internet. The firm mentioned that it considers the change to make a strong distinction between both the companies because the similarity between the stock symbols is eliminated.

The foundation of the company was laid in 1932. It will continue until 16th August that the investors could avail both versions, and after that, the symbol will be changed permanently. In May, the Wall Street Journal reported that the interior designing company’s stock witnessed a momentous upsurge due to the investors’ obscurity that they were purchasing Ethereum. Rishi Khanna, the CEO of StockTwits (a social investing website), told the Journal that a huge spike was made in Ethan Allen’s revenue percentage.

The records of Yahoo Finance show that the ETH version of the company valued $20 at the start of the current year, and it swelled up to $50, making an additional $32 by the 7th of May. This was the point from where its price collapsed down, and at this time, it is roughly $23. The stock overview of Yahoo Finance contained many comments by people who were annoyed, confused, or, unlike either side, talking about the funny aspect of the confusion.

Terry (a user) noted below the stock on 1st August that a noteworthy growth up to $800 has been noticed in ETH since July 20, and it looks bullish. Another user Chris L noted on 4th August that the stock symbol of Ethan Allen should be changed to do a great factual business.

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