Vinco Ventures Stock: Why The Price Surged Over 30%?

$Vinco Ventures(BBIG.US)$ increased by over 30% pre-market today. Investors are responding positively to Vinco Ventures announcing that May 18, 2022, has been set as the record date for the dividend of shares of common stock of Cryptyde, Inc. to be distributed to Vinco stockholders in order to effect the separation of Vinco and Cryptyde into two independent, publicly-traded companies.

Following the separation, Vinco stockholders will also receive cash in lieu of any fractional shares of Cryptyde common stock that those holders would have received after the application of the 10:1 distribution ratio. No action is required by Vinco stockholders in order to receive the shares of Cryptyde common stock in the dividend distribution.