I hold both HIVE Stock in my TFSA (tax free savings account in Canada) on Wealthsimple and HIVE crypto on exchanges as well.
Hive stock is listed on open markets and they probably have to make an attempt to sue any breach of brand recognition etc even if they don't follow through it may discourage other online or brick and mortar companies in related industries to run with the same name. I would argue that it is probably wise to do especially for a company with listed stocks as the board have shareholders to answer to.
Since 2017 it was listed on the Canadian exchange as HIVE.
With regards to changing the ticker in America other than consolidating the ticker to match Canada, there have been studies that a portfolio of readable/memorable tickers outperform a bunch of letters. i.e. using HIVE as a ticket is better than HVBT everything else being equal.
I'm not sure if HIVE crypto had any positive or otherwise impact on HIVE stock. I don't think a small cap crypto is changing the price on a larger cap listed stock in any meaningful way.
Thanks for adding this information to the conversation. I didn't realize they used two different ticker symbols: one in Canada, and another in US. That makes me wonder why they didn't go with HIVE ticker in the first place. Maybe it wasn't available at the time of listing?
They are not large cap. lol. They are only a billion dollar company. Just like Hive is a billion dollar network.
Keep in mind that when their stock price was at around 15 cents they were much more smaller.
The main point I was trying to make is this. HBT Ltd is a mining company, whose business model is making money from mining bitcoin and other coins. They clearly see this as a profitable opportunity. Moreover, for their success is tied to the success of bitcoin and other crypto projects.
That said, as an investor in the company, wouldn't you expect the CEO and the management of the company to be familiar with bitcoin technology, what it stands for and maybe at least have read the bitcoin whitepaper? If they have then, they should not only understand how decentralized networks/blockchains work, but also be allies for such efforts.
To it is clear, they are just like any other traditional company, just see money and want more of it. Everything else doesn't matter. So this is either ignorance or hypocrisy. Let me know if there is a third option.
Thank you @colm.hive
Now the market cap of Hive stock is 2-3x the crypto but tiny in comparison to bigger companies and yes agreed at the time they were much smaller as well.
Also agreed on the rest - It definitely is petty and against the spirit of the field they are profiting from.