By Chris Wack

Vinco Ventures Inc. shares were 10% higher at $1.48 Thursday after the company spun off its Cryptyde Inc. subsidiary.

Cryptyde shares were down 68% to $2.03 at 1 p.m. ET, trading on the Nasdaq Capital Market under the symbol TYDE.

Last year, Vinco Ventures said it was spinning off its Cryptyde subsidiary, with each Vinco stockholder of record getting one share of Cryptyde stock for every 10 shares of Vinco held. Cryptyde provides an comprehensive, scalable Web3 businesses using blockchain technologies, non-fungible tokens, smart contracts, metaverse and crypto.

Bitcoin was down 4.4% to $19,119.87 at 1 p.m. ET, and down 40% in the last month. Ethereum was down 6% to $1,032.17 at 1 p.m. ET, and down 47% in the last month.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 30, 2022 13:21 ET (17:21 GMT)

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