One of the best-performing stocks over the past three weeks has been Vinco Ventures (NASDAQ:BBIG). Indeed, since hitting a low of $2.16 per share on Aug. 19, shares of BBIG stock have skyrocketed to more than $11 per share at the time of writing on impressive investor interest.
Vinco Venture’s recent rise appears to be the result of a number of factors. First on the list for many investors is the short-squeeze potential of BBIG stock.
Indeed, Vinco Ventures remains one of the most shorted stocks in the market right now. Additionally, this company’s borrow-fee rate remains high. Investors banking on a parabolic spike appear to have been rewarded of late. However, whether this is simply the result of heavy buying rather than short-covering remains to be seen.
For now, it’s clear that BBIG stock is one investors are watching closely. Will this stock continue to squeeze? Or will the momentum dissipate with a whimper? Time will tell.
For now, let’s take a look at the latest development capturing investors attention with respect to BBIG stock.
BBIG Stock Surging on Proxy Presentation
- Today, Vinco Ventures announced a 2021 Annual Proxy, along with a presentation.
- This presentation highlights plans for a big corporate spinoff.
- The spinoff will result in a new public company, Cryptyde, trading under the symbol “TYDE.”
- Additionally, the spinoff integrates E-NFT.com into the fold.
- This venue reportedly launched the first ever album to go platinum on the blockchain.
- The preliminary proxy date is set for Sept. 8, with the record date for the proxy being Sept. 14.
- Additionally, the mailing date for the proxy is Sept. 22, approximately three weeks before the company’s shareholder meeting on Oct. 14.
On the date of publication, Chris MacDonald 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 InvestorPlace.com Publishing Guidelines.