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Vinco Ventures Gained 70% This Week. What Comes Next for BBIG Stock?

If you follow Vinco Ventures (NASDAQ:BBIG), you know that the company is focused on two things: growth and innovation. To the selective acquisition firm, both such feats are achieved, not just through buying, but buying big. The fall began with Vinco announcing a major catalyst, specifically that October would bring the launch of its spinoff Cryptyde. Cryptyde is an independent entity focused on blockchain technology and disruption that would include digital marketplace E-NFT.com. After much anticipation, the day slated for Cryptyde’s launch has finally arrived. While investors have lingering questions, BBIG stock has enjoyed a week of big growth.

Neon NFT Sign

Source: Shutterstock

What Happened With BBIG Stock

A few weeks ago, Vinco Ventures released a slide deck ahead of its shareholder meeting. This presentation detailed, among other things, its proposed Cryptyde spinoff. If all went well, the plan called for Cryptyde to start trading independently under the ticker TYDE. This presentation also set a date for the shareholder meeting of Oct. 14.

Vinco Ventures filed a form 8-K with the U.S. Securities and Exchange Commission this morning, indicating that all four proposals on the agenda for its shareholder meeting were approved. These proposals include electing new directors and confirming a new public accounting firm.

According to the presentation from earlier this season, the date of record for the Cryptyde spinoff dividend is today, Oct. 15. Last week though, Vinco Ventures filed a separate 8-K changing the record date to Oct. 22. This means anyone holding BBIG stock at that time would be eligible to receive the dividend and cash in on Vinco Venture’s latest endeavor.

However, investors hungry for more information may be a bit frustrated. Today’s 8-K did not make mention of Cryptyde or the pending spinoff. Neither, it seems, did the S-1/A form also filed this morning. Vinco Ventures did not immediately make any representatives available for comment on the spinoff.

For BBIG stock, though, it has been a good few days.

Shares gained nearly 70% over the past five trading days. After a period of turbulence, Vinco Ventures began to rise on Oct. 7 after the company announced a successful acquisition of ad-tech innovator AdRizer through its joint venture with ZASH Global Media.

Why It Matters

A popular retail investor favorite, Vinco has generated constant buzz from digital investment communities. This meme stock status has kept it in the public eye throughout September and October, despite the constant turbulence by which BBIG stock has been plagued.

If all systems are go, though, and as of now it seems like they are, Vinco could finally be headed for a period of sustainable growth. The launch of Cryptyde hasn’t technically been confirmed yet, but the stock is soaring, clearly an indicator of the company’s potential and its vision in launching a venture tailored to fill a clear market need.

What’s Next for BBIG Stock

As the stock rose today, Reddit investors pushed hard, knowing that type of pressure would drive it up even further and with the impending Cryptyde catalyst, it might even stay there. This is hardly surprising, as both the spinoff and parent company are exactly the types of companies that digital investors like to see succeed.

InvestorPlace analyst Louis Navellier touted Vinco’s potential yesterday, though, noting that while the company was confusing for some investors, the upside potential was clear. He wrote that if investors are willing to wait and stomach the type of turbulence that comes with risk, they could certainly stand to reap some rewards while BBIG stock proved its skeptics wrong.

While everything about this deal remains complicated, it also remains worth watching as the existing stock rises, particularly if the other begins trading soon. Oct. 22 looms as a key date for BBIG stock fans.

On the date of publication, Samuel O’Brient 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.

Article printed from InvestorPlace Media, https://investorplace.com/2021/10/vinco-ventures-gained-70-this-week-what-comes-next-for-bbig-stock/.

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