Company's stock increases 394% after adding 'blockchain' to its name

The shares of British company On-Line Plc jumped up by 394% in a single day on Friday, hot on the heels of a more modest climb on Thursday, when the company first announced the name change to 'On-Line Blockchain Plc', Bloomberg reports.Needless to say, this is the best day on record for the company since its initial listing in December 1996.A British company that has been investing in internet and information businesses is having its best day on record.“Blockchain technology and cryptocurrencies are a new and exciting area we have been working on for some time,” the company said in a statement on Thursday. “We feel the time is right to re-name the company to reflect these developments, where we believe the future growth will be in our sector.”Although the company published a follow-up release on Friday, warning that its blockchain development is in its early days, the company's market value remained at its highest since 2005.