Vortex Brands Co. (OTC:VTXB) Stock Falls After Acquisition News

As the trading week winds down to a close, investors are still going to be keen to uncover new stocks that they may track and follow. One of the companies that may be worth tracking at this point in time is Vortex Brands Co. (OTC:VTXB). In fact, the company was in the news cycle on Thursday when it announced that it had continued to expand and boost its Bitcoin mining operations through the acquisition of more mining units.

The news was especially significant considering the price action that had been seen in Bitcoin in recent times. The company’s strategic growth plans would involve active work on raising the Bitcoin mining hash power at its disposal through the acquisition of more machines. The company noted in its news release that it was committed to holding its position at the vanguard of the fast-evolving cryptocurrency industry. Through the expansion of its Bitcoin mining operations, Vortex Brands seeks to cash in on the rising demand for digital assets and also make its position in the crypto market stronger.

On July 27, the company announced that the Financial Industrial Regulatory Authority (FINRA) had announced the cash dividend from Vortex Brands in its daily list for the shareholders’ benefit. The cash dividend paid out by the company stood at $0.000004 per share. All shareholders of record as of July 31, 2023 were eligible for the dividend payout. At the time, it had been announced that the dividend was going to be paid out on September 15, 2023.

The President and Chief Executive Officer of Vortex Brands, Todd Higley, spoke about the developments at the time as well. He noted that Vortex Brands was committed to providing value for the long term to its shareholders, and the dividend payout was a reflection of that.