Five Narrow Lane Made a Big Bet on Vinco Ventures (BBIG) Stock

  • Five Narrow Lane just disclosed a 9.67% stake in Vinco Ventures (NASDAQ:BBIG)
  • The investment firm purchased 22.55 million shares of the company
  • BBIG stock closed higher by 3.4% following the news
vinco ventures (BBIG) logo on an orange/red background
Source: vincoventures.com

Shares of Vinco Ventures rose as high as $2.57 today after Five Narrow Lane disclosed through a 13G form that it had taken a 9.67% stake in BBIG stock. A 13G form implies passive ownership. Meanwhile, its counterpart — the 13D form — indicates active ownership.

Earlier this week, Vinco Ventures reported that it was pushing back its distribution date for Cryptyde. Investors in BBIG stock were not pleased as a result; shares dropped more than 15% this week.

Vinco had originally slated the distribution date for May 27. Unfortunately, though, the U.S. Securities and Exchange Commission (SEC) has yet to approve Cryptyde’s Form S-1. Without approval of the form, the distribution can not occur. BBIG shareholders also have to continue to hold their shares until the distribution date in order to receive the Cryptyde distribution.

Five Narrow seems to be confident in Vinco Ventures despite the distribution date pushback, however. That much is evident from its recent purchase. Let’s get into the details.

Five Narrow Lane Buys BBIG Stock

According to a 13G form with a May 25 date of event, Five Narrow has purchased 22.55 million shares of BBIG stock. At today’s closing price of $2.45, that stake is worth $55.24 million.

Not much is known about Five Narrow Lane. According to Fintel, the investment firm owns only two positions in its portfolio. The first is BBIG stock. The second is 262,177 shares of Zosano Pharma (NASDAQ:ZSAN). With its 9.67% stake in Vinco, Five Narrow just barely misses the 10% cutoff to be classified as a company insider.

So, how do Vinco insiders feel about their company? Apparently, insiders have purchased 300,000 shares of BBIG in the past year while selling 100,000 shares. In total, insiders have amounted to a net activity of 200,000 shares purchased. These transactions can be attributed to Director Phillip McFillin, who received 300,000 shares last year as part of an equity incentive plan. In January, McFillin sold 100,000 shares at an average price of $5 via a prearranged 10b5-1 plan.

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On the date of publication, Eddie Pan did not hold (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/2022/05/five-narrow-lane-made-a-big-bet-on-vinco-ventures-bbig-stock/.

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