Ethan Allen Interiors, the American furniture retailer, is changing its stock ticker to avoid confusion with ether, the crypto asset used to pay transactions fees on the ethereum computing platform.
The company’s trading symbol will switch from ETH to ETD on the New York Stock Exchange on Aug. 16. “This change will better differentiate Ethan Allen news from Ethereum news in search results, as Ethereum is often abbreviated as ETH,” said Ethan Allen CEO Farooq Kathwari in a statement announcing the switch. The “D” in the new ticker, he said, is for “design.”
Being confused with a digital asset isn’t always negative, at least in the short run. While shares of Danbury, Connecticut-based Ethan Allen have risen 80% during the past 12 months, ether has rocketed around 500% during that span.