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<ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/eth-stock">Ethan Allen Interiors</a> is ditching its ETH stock symbol as some have confused it with the cryptocurrency <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>.</li><li>The furniture company's new ETD ticker will be effective on August 16. </li><li><keyword id="1041457" type="PERSON" weightage="60" keywordseo="Ethan-Allen">Ethan Allen</keyword>'s stock and the price of <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>, the token of the <keyword id="4754929" type="PERSON" weightage="60" keywordseo="Ethereum-blockchain">ethereum blockchain</keyword>, have shot higher this year. </li></ul><a href="https://markets.businessinsider.com/stocks/eth-stock">Ethan Allen Interiors</a> is changing the ETH stock symbol it's held for nearly 30 years in a move to clear up apparent confusion over the furniture maker's ticker with that of the cryptocurrency <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>.The new NYSE ticker will be ETD as of August 16, the company <a href="https://ir.ethanallen.com/news-events/press-releases/detail/230/ethan-allen-announces-nyse-ticker-symbol-change-to-etd">said in a Thursday statement</a>. Earlier this year, the company's stock price had soared by nearly 60% on a year-to-date basis and had more than doubled from a year earlier, with some investors <a href="https://markets.businessinsider.com/news/currencies/ethan-allen-stock-price-traders-confuse-ticker-with-ether-eth-2021-5">seemingly mistaking the ticker for the token of the Ethereum blockchain</a>. Ethan Allen went public in 1993 with the ETH symbol. The "change will better differentiate Ethan Allen news from Ethereum news in search results, as Ethereum is often abbreviated as ETH," said Farooq Kathwari, Ethan Allen's chairman, president and CEO, in the statement. An investment forum at StockTwits <a href="https://stocktwits.com/symbol/ETH">dedicated to Ethan Allen</a> is filled with messages about ether rather than the <keyword id="5286944" type="UNKNOWN" weightage="60" keywordseo="Furniture-seller">furniture seller</keyword>. Ethan Allen started in business in 1932, making it the elder statesman in the market as ethereum was launched in 2015. Ethan Allen's stock has pulled back from this year's highs but was still up by roughly 18%. Ether's price this year has zoomed up by about 280% to trade above $2,800 as part of widening investment activity in <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword>. It's the second-most traded cryptocurrency behind <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>, with a market capitalization of about $330 billion. But investors seeking out Ethan Allen would see there's been a jump in business there as the pandemic fueled demand for homes and the need to furnish them. The company's revenue climbed 18% in the first quarter of 2021 from the year-ago period. Kathwari in Ethan Allen's statement said the "D" in the new ticker symbol is for "Design," reflecting its focus on interior design.

Ethan Allen is changing its stock ticker from ETH to ETD to stop people from confusing it with ethereum

<ul><li>One beneficiary of the 2021 <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> boom is furniture chain <keyword id="1041457" type="PERSON" weightage="60" keywordseo="Ethan-Allen">Ethan Allen</keyword>, which shares an identical ticker symbol with <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>.</li><li>The furniture retailer has seen its stock climb 51% year-to-date while ether has more than quadrupled.</li><li>Most of the online message forums for Ethan Allen are riddled with messages about ether.</li><li id="recirc"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/eth-stock">Ethan Allen</a> have surged more than 50% year-to-date and are up nearly 200% over the past year, potentially due in part to trader confusion over the ticker symbol it shares with cryptocurrency <keyword id="695282" type="ORGANIZATION" weightage="60" keywordseo="ETH">eth</keyword>er: ETH.Ether, which works on the <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> blockchain, has been on a tear so far this year, <a href="https://markets.businessinsider.com/currencies/news/ethereum-price-400-billion-market-value-bigger-all-but-13-companies-2021-5-1030385257">quadrupling to more than $3,000</a> as a boom in bitcoin helped set the stage for an investor frenzy in other alt-coins like ether and <a href="https://markets.businessinsider.com/currencies/news/single-dogecoin-whale-owns-22-billion-elon-musk-february-warning-2021-5-1030404506">dogecoin.</a>The StockTwits investment forum <a href="https://stocktwits.com/symbol/ETH">dedicated to Ethan Allen</a> is riddled with messages about the cryptocurrency rather than the furniture seller. Daily message volume on StockTwits' Ethan Allen page has surged 300% since the start of May, which coincides with a parabolic surge in ether's price."We've definitely seen a massive increase on a percentage basis in mistaken activity on the Ethan Allen stream," StockTwits CEO Rishi Khanna told <a href="https://www.wsj.com/articles/ethereum-never-felt-so-comfortable-11620919006">The Wall Street Journal.</a>That's not to say Ethan Allen is up solely due to potential ticker confusion with ether. The furniture retailer has seen a boom in business amid the pandemic as demand for homes surged to records. Year-over-year revenue growth of 18% in the first quarter of 2021, combined with a special dividend announcement of $0.75, helped propel shares higher in late April.This isn't the first time investors have mistaken a ticker symbol or company name with another company that was in the news, leading to a massive price increase as retail investors created buying pressure. In January, shares of <a href="https://markets.businessinsider.com/news/stocks/signal-advance-stock-price-surge-elon-musk-tweet-privacy-app-2021-1-1029956384">Signal Advance soared more than 11,000%</a> after <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> CEO Elon Musk recommended a similarly named privacy app that was not publicly traded. And in February, tweets about audio-app Clubhouse from Musk spurred <a href="https://www.businessinsider.com/traders-invest-in-clubhouse-media-group-after-elon-musk-tweet-2021-2">a massive surge in Clubhouse Media Group,</a> a microcap stock unrelated to the popular audio-chat application.If anything, the trader confusion over ticker symbols and company names should serve as a warning to new investors that are eager to put money to work: slow down and perform the proper due diligence before investing in individual stocks. Read more: <a href="https://www.businessinsider.com/crypto-trading-investing-tips-crypto-tokens-hodling-trader-scott-melker-2021-5" target="_blank" rel="noopener">'Wolf of All Streets' crypto trader Scott Melker breaks down his strategy for making money using 'HODLing' and 100-times trade opportunities - and shares 5 under-the-radar tokens he thinks could explode</a><div type="image" title="eth stock.JPG" height="527" width="669" msid="82720134" hostid="261"></div>

Ethan Allen stock is soaring as traders confuse its ticker with the identical one for ether

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Ethan Allen is changing its stock ticker from ETH to ETD to stop people from confusing it with ethereum

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Ethan Allen stock is soaring as traders confuse its ticker with the identical one for ether

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