CEA Industries (VAPE) stock underwent a massive rally on Monday after the company announced a $500 million private investment in public equity (PIPE). The PIPE includes gross proceeds of $400 million in cash and $100 million in crypto. It also includes up to $750 million from the potential exercise of warrants. The company will use these funds to create a BNB Chain (BNB) crypto treasury.
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There are other factors worth keeping in mind today when considering the huge VAPE stock rally. That includes increased trading activity after the company recently switched to the VAPE ticker. This change also signified the company’s new direction, focused on the vaping industry.
Another recent highlight for VAPE stock was the Food and Drug Administration’s (FDA) authorization for Juul marketing last week. This was a major victory for the vaping industry, which has struggled in recent years as regulators have been slow to rule on e-cigarettes.
CEA Industries Stock Movement Today
CEA Industries stock was up 673.52% in pre-market trading on Monday, following a 3.8% rally on Friday. The shares were up 9.3% year-to-date and 25.62% over the past 12 months when markets closed on Friday. Today’s rally came with heavy trading, as some 2 million shares changed hands. For perspective, the company’s three-month daily average trading volume is 5,940 units and it has a float of 621,260 shares.
