Canadian vape company jumps 550% in pivot to BNB treasury firm
CEA Industries shares are up nearly 550% as the vape company revealed plans to turn into a BNB treasury company backed by a firm tied to Binance co-founder Changpeng Zhao.
Shares in the Canadian vape company CEA Industries Inc. (VAPE) surged nearly 550% on Monday after revealing plans to become the largest BNB treasury company in the US.
VAPE shares closed trading on Monday at $57.59, up nearly 549% from its $8.88 close on Friday. It’s seen an almost 7% drop after hours to $53.61.
CEA Industries said earlier on Monday that it plans to become the largest publicly traded BNB (BNB) treasury company in the US with a $500 million share sale to private investors, with an additional $750 million in cash available through exercised warrants.
