Is NFT Stock Vinco Ventures (BBIG) a Buy? What the Pros Say.


Vinco Ventures (NASDAQ:BBIG) stock is on a wild ride this week with shares of the acquisition company running higher Friday.

Neon NFT Sign representing BBIG stock.

Source: Shutterstock

We’ve seen positive stock just about all week long for BBIG stock and now shares are soaring even higher today. Part of that movement likely has to do with the company’s most recent earnings report. However, there are other factors at play here.

It’s no secret that Vinco Ventures is looking to strengthen its position in the non-fungible tokens (NFTs). A subsidiary of the company focuses just on this and that has retail and crypto traders both taking an interest in BBIG stock.

But what do the experts have to say about BBIG stock? Let’s see what our own writers at InvestorPlace have to say about it.

BBIG Stock Bulls

“Okay, so BBIG stock is a penny stock. Yet, this doesn’t mean Vinco Ventures isn’t making big moves. The planned Lomotif acquisition should add a great deal of value for Vinco’s shareholders. And with the company moving forward on the fiscal front, Vinco Ventures remains a growth story worth watching, and investing in.” — David Moadel

BBIG Stock Bears

“If destroying the book value per share is a ‘B.I.G Strategy’ then you get my point about BBIG stock. Avoid it. Rather than building value, the company has destroyed value.” — Stavros Georgiadis

“Will Vinco, via its ZASH/Lomotif deal be any more successful? It’s hard to say, as financial details are so limited at this time. However, potential investors should approach BBIG stock with a wary eye.” — Ian Bezek

BBIG stock is moving a hefty amount of shares on Friday. As of this writing, some 50 million shares of the stock have changed hands. That’s a major increase compared to its daily average trading volume of about 15.2 million shares.

BBIG stock was up 43.4% as of noon Friday.

We’ve got more stock market news that traders will want to know about below!

InvestorPlace offers up coverage of the stock market daily. A few stories worth diving into today include Cardano (CCC:ADA-USD) price predictions, NeuroMetrix (NASDAQ:NURO) stock running higher, and what else to expect from the market. You can find all of this at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed

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