Vinco Ventures (NASDAQ: BBIG) was trading at $2,99 per stock. However, Vinco Ventures stockholders had experienced a rollercoaster ride this year when they invested in the company.
BBIG’s shares jumped from $2.44 at the start of the year to $5.49 on January 18, a 125% increase in two and a quarter weeks. Then, after a rapid decline, consolidation, and another selloff, shares dropped to $1.94 on March 14.
Vinco Ventures is currently undergoing an internal restructuring that should allow it to define its long-term strategic plan better. So that could be a good time for investors in BBIG stock.
The stock rose 24 percent Monday due to speculation that retail traders were excited about Cryptyde’s plans to spin it out.
Vinco Ventures’ crown jewel, the Lomotif App, is without question. According to the company, Lomotif is a short video platform that competes against TikTok. In addition, Lomotif offers video editing tools such as stickers, filters, slow motion, and zoom.
Vinco Ventures has tapped its media expertise to help Lomotif gain more users. LoMo TV is an entertainment and content network within the Lomotif app. It’s one of the most exciting ideas. LoMo TV, a streaming service, offers access to original programming, both live and on-demand.
TikTok latter has a much larger following and is a more well-known brand than the former. However, Vinco Ventures is not happy with the social media market.
This rule is notable for the Indian market. TikTok was banned in India due to its alleged links with the Chinese government. The country of India now has a new version of Vinco Ventures’ Lomotif app.
India is a vast market due to its large population and rapidly expanding economy. As a result, India’s GDP will surpass Japan’s in Asia in 2030 for the first time in history. If the current trend continues, India’s GDP will overtake Germany and the United Kingdom.
Vinco Ventures, in summary, is not a fundamentally based stock but a news-driven one. Day traders and swing traders can profitably trade BBIG; it is inevitable.
