Bulletins

People may be confusing Ethan Allen stock with ether

This ETH or that ETH?

An Ethereum coin
Photo by Nick Chong on Unsplash

Stock of the furniture retailer Ethan Allen is up more than 50% so far this year, and it looks like that might be in part because people are confusing its ticker symbol, ETH, with the currency ticker of ether.

Markets Insider reports that, "The StockTwits investment forum dedicated to Ethan Allen is riddled with messages about the cryptocurrency rather than the furniture seller."

"We've definitely seen a massive increase on a percentage basis in mistaken activity on the Ethan Allen stream," Rishi Khanna, CEO of StockTwits, told The Wall Street Journal late last week.

Worth noting: Ethan Allen is actually faring well financially this year, with year-over-year revenue growth of 18% in the first three months of 2021. But ether has more than quadrupled in value so far in 2021, so it seems plausible that Ethan Allen has ether to thank for at least some of its success.

Jamie Condliffe

Jamie Condliffe ( @jme_c) is the executive editor at Protocol, based in London. Prior to joining Protocol in 2019, he worked on the business desk at The New York Times, where he edited the DealBook newsletter and wrote Bits, the weekly tech newsletter. He has previously worked at MIT Technology Review, Gizmodo, and New Scientist, and has held lectureships at the University of Oxford and Imperial College London. He also holds a doctorate in engineering from the University of Oxford.

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