Future FinTech Group Inc. (NASDAQ:FTFT)

Nothing like the stench of a name change and ticker change to wake you up in the morning. This is my second down thumb here, and I pretty much expect the same result as the first. Some snippets:

"On June 6, 2017, Future FinTech Group Inc. (the “Company”) filed a Certificate ofAmendment (the “Certificate”) with the Secretary of State for the State of Florida to amend and restate its articles of incorporation to change its name from SkyPeople Fruit Juice, Inc. to Future FinTech Group Inc., effective immediately (the “Name Change”). The Name Change was approved by the Company’s Board of Directors (the “Board”) on March 30, 2017 and by shareholders holding a majority of the Company’s issued and outstanding capital stock on March 31, 2017. In addition, effective as of June 6, 2017, the Company’s bylaws were amended and restated to reflect the Name Change (the “Amended and Restated”). The Name Change does not affect the rights of the Company’s shareholders. The Company anticipates that the Company’s common stock willcease trading under the ticker symbol “SPU” and will begin trading under the ticker symbol “FTFT” as of June 12, 2017. In connection with the Name Change, the Company’s common stock has been assigned a newCUSIP number of 36117V105."

"Effective 9:00A.M. Eastern Time, March 16, 2016 (the “Effective Time”), each 8 (eight) shares of Common Stock of the Company (“Old Common Stock”) issued and outstanding immediately prior to the Effective Time shall be automatically combined, reclassified and exchanged into one (1) share of Common Stock of the Company (“NewCommon Stock”), without changing the par value of the shares of the Company (the “Reverse Split”)."

I have a feeling the Chinese firm is also about to change business plans, but I have not seen any announcement yet. And maybe I am wrong - maybe they continue to want to sell fruit juice to the masses. Considering the performance of the stock, and their severe decline in revenue ofver the past five years, and their penchant for reverse splits, I have no confidence that this company would be able to execute its current, or any sore of new, business plan. Avoid this stock.