Vinco Ventures Shares Rise 10% After Cryptyde Spinoff
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 email@example.com
(END) Dow Jones Newswires
June 30, 2022 13:21 ET (17:21 GMT)
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