Investors Confuse Ethan Allen With Ethereum: Shares up 50% Over Average Price

May 17, 2021 | Bitcoin News | 0 comments


Ethan Allen, a U.S.-based furniture company, has been getting strange traction in markets this year, due to an interesting coincidence. The company’s stock ticker is the same as ethereum’s ticker, something it shares with one of the hottest cryptocurrencies right now. This has caused confusion among investors, who have bought Ethan Allen without doing research and thinking they are buying ethereum.

Ethan Allen Enjoys Ethereum’s Market Ticker

Ethan Allen, a Nasdaq-listed custom furniture company based in Vermont, has been getting a special kind of attention in the market this year, as its shares are going up for no apparent reason. But what’s the cause of all this? Confusion it seems. It turns out that Ethan Allen’s shares its ticker (ETH) with ethereum, one of the most popular cryptocurrencies in the market right now, making investors ape in furniture company shares rather than in digital currency.

And while this might sound incredible to some, the comments on the social boards of stock investing sites confirm this fact: most of the messages posted are related to ethereum, instead of talking about Ethan Allen. Messages like:

“Sideways for the next few days. Load up now #eth.”

“Sold everything for a 10k profit, now parked in $Eth till the next dip, LOVE IT!”

The aforementioned comments are just a couple of instances that illustrate how investors are indeed confusing the two tickers.

However, there are other savvy investors that mock this confusion, with comments like:

$ETH to the moon! – give us something to sit in when we get there!
In the year 2030, all transactions will be settled digitally with Ethan Allen interiors stock

But, even with all this confusion, Ethan Allen has nothing to regret from this. The firm’s stock has been trading 50% over its 5-year price average, an unexpected blessing for Ethan Allen investors.

Other Instances Where This Has Happened

While Ethan Allen has profited from its coincidental relation with ethereum (ETH), there are other companies that have pivoted their names to benefit from this relation. This is the case of Long Island Iced Tea, a company that changed its name to “Long Blockchain Corp.” during the 2017 bull run. This created a wave of buyers aping in, with its stock surging more than 200% in just one day.

However, this change didn’t help the company in the long run. The company had its ticker delisted from the stock market last year, with the SEC stating it had failed to file financial reports since 2018.

What do you think about the Ethan Allen- ETH ticker confusion? Tell us in the comments section below.

News Source from

Related Articles

What Is EIP-1559 and Why Are Markets So Excited About It?

What Is EIP-1559 and Why Are Markets So Excited About It?

The Ethereum network has, in its short six-year history, come to dominate cryptocurrencies. While Bitcoin has hogged the headlines thanks to its spectacular rises and falls, Ethereum has cemented itself as the place where people go to build things on blockchain.  But...

Chinese banks roll out 3,000 ATMs that can convert digital yuan to cash

Chinese banks roll out 3,000 ATMs that can convert digital yuan to cash

More than 3,000 automated teller machines (ATM) in Beijing have now been enabled with a feature that can convert China's digital yuan, also known as the e-CNY, into cash, and vice versa.  According to a Xinhua news agency report on Friday, the Beijing branch of the...

Denmark’s largest bank cautious on crypto, but won’t interfere

Denmark’s largest bank cautious on crypto, but won’t interfere

Danske Bank isn't completely sold on cryptocurrency but said it won't stop its customers from using its services in connection with crypto platforms. Danske Bank, the largest bank in Denmark, laid out its official position on cryptocurrencies on June 17, when it...

Pin It on Pinterest

Share This