STOCKS TELEGRAPH

Tag: Vinco Ventures

  • Here’s the Reason Why Vinco Ventures, Inc. (BBIG) Stock is Leaping Forward in Aftermarket

    Here’s the Reason Why Vinco Ventures, Inc. (BBIG) Stock is Leaping Forward in Aftermarket

    Vinco Ventures, Inc. (BBIG), a company involved in consumer product research and development, manufacturing, sales, and fulfillment, has soared 10.88% in aftermarket trading session. Consequently, BBIG stock is trading at $4.28 at the time of the writing. The increase was attributable to the announcement of the release date of quarterly results by the company. On Friday, BBIG closed the day at $3.86 after declining 2.77% during the mid-day session.

    Why BBIG Stock Increasing?

    On Friday, BBIG announced that it would release the financial results for the third quarter of fiscal 2021, which ended 30th September 2021, on 22nd November 2021. The company said that the management would hold the conference call and a webcast to shed a light on the company’s third-quarter results and major business developments which have imparted influence over the company.

    Filing of Registration Statement

    On 8th November, BBIG announced the filing of form 10 registration statement with US SEC related to the planned spin-off of Cryptyde Inc. The spin-off was to cause Cryptyde a publicly-traded NASDAQ listed company having a ticker symbol of TYDE. The Vinco was to continue under the ticker of BBIG on NASDAQ after the completion of the planned spin-off and the merger with Zash Global Media and Entertainment Corp.

    Q2 2021 Financial Highlights

    In late August, BBIG announced the financial results for the second quarter of the fiscal year 2021. The quarter ended on 30th June 2021. The company had cash and cash equivalents of $74.75 million on 30th June. The net revenue generated by the company during the quarter was $2.69 million against $5.17 million for the same period of 2020. The operating loss bore by the company during the quarter was $4.97 million against $1.20 million for the same period of 2020. The net loss suffered by the company during the quarter was $183.66 million (or $5.13 per basic and diluted share) against $1.62 million (or $0.18 per basic and diluted share) for the same period of 2020.

    Future Outlook for BBIG Stock

    Statistics reveal that during the last three months, BBIG stock has increased more than 55%. The prime reason for that is the excellent business strategies imparted by the company in the form of business expansion plans. Analysts believe that the continuation of such policies would greatly aid the company in the long run.

  • Vinco Ventures, Inc. (BBIG) Stock Trends Higher Ahead of Pending Finalization of Reverse Merger with Zash Global

    Vinco Ventures, Inc. (BBIG) Stock Trends Higher Ahead of Pending Finalization of Reverse Merger with Zash Global

    Vinco Ventures, Inc. (BBIG) stock prices were up by 7.2179% some time after market trading commenced on July 12th, 2021, bringing the price per share up to USD$4.08 early on in the trading day.

    Reverse Merger with Zash

    The company announced in January of 2021 a reverse merger with a private media company called Zash Global Media, with the fate of BBIG’s stock seeming to depend on the closing of the merger. Following the move, Zash will become the controlling company, while retaining both Vinco’s name and the BBIG ticker. The company hopes to allow BBIG to cover its losses in order to facilitate the expansion of the business. The reverse merger is expected to be approved some time in July of 2021.

    Acquisition of Lomotif

    The combined company also has plans on acquiring Lomotif, a contender of the market space currently dominated by the TikTok platform. The merger is designed to utilize data, metadata, and the Internet of Things, to meet the perpetually evolving demands of content developers, consumers, and creators. February 2021 saw Farnsworth and Ma acquire a controlling stake in Lomotif, facilitating the participation of shareholders in BBIG’s growth.

    Healthy Liquidity Position

    The company reported USD$5.5 million in cash as of March 31st, 2021, indicating a comfortable liquid position, including USD$1.68 million in receivables. Nevertheless, the company is running steep cash flow losses, as indicated by a loss from operations in the amount of USD$4.14 million for the first quarter of 2021.  May 24th, 2021 saw an accredited investor exercise warrants of the company’s stock, generating an additional USD$5.74 million.

    Emmersive Entertainment Spin Out

    June 24th saw the Vinco-Zash duo invest USD$2 million in Lomotif after receiving investment in the same amount. The same date also saw the company announce its spinning out of Emmersive Entertainment to its shareholder as a standalone public company. This sees the company enter the non-fungible token space, with the deal expected to close in the third quarter of fiscal 2021.

    Future Outlook for BBIG

    Armed with the recent string of collaborations, BBIG is poised to capitalize on the expansive opportunities afforded to it as it consolidates its existing market footprint while also expanding into other markets. Investors are hopeful that the company will continue to leverage the resources at its disposal to maintain its trajectory of success, thus ushering in sustained growth in the long term.

  • Vinco Ventures, Inc. (BBIG) stock set For Merger With ZASH Global Media And Entertainment Corporation

    Vinco Ventures, Inc. (BBIG) stock set For Merger With ZASH Global Media And Entertainment Corporation

    Vinco Ventures, Inc. (BBIG) stock a mergers and acquisition company focused on digital media space and consumer brands has extended its period to close the merger with ZASH Global Media till May 28, 2021. The renewed duration will provide the parties with a longer time span to declare a final contractual agreement and restructure both the party’s conditions for the merger including the finalization of an audit of Singapore-based Lomotif Private Limited, which ZASH will be acquiring side by side with Vinco Ventures Inc.

    The completed merger will bring ZASH public and also give Zash the majority shares in Vinco Ventures in addition to Lomotif, which is the main rival of TikTok.

    BBIG Stock Volatile Due to NFT Speculations

    A large number of users of social media such as Twitter have placed a bet on BBIG as potentially an NFT stock. However, there’s no official announcement from the company to create NFTs. This has created speculation among various investors due to which the stock price surged a few days ago due to unremunerated rumors.

    An NFTs is a non-fungible token. These are special cryptocurrency tokens that represent a unique digital item. The tokens can be used to buy and sell digital media. NFTs can represent digital files such as art, audio, videos and are stored on a digital ledger called blockchain, the same ledger which is used for cryptocurrency such as BTC.

    Hence BBIG stock is also sitting 191.2% higher since the start of the year with the stock’s daily average trading volume reaching 5.6 Million shares.

    Conclusion

    Vinco Ventures, Inc. (Nasdaq: BBIG) operates in the lucrative field of digital goods. Recent buzz on social media has suggested that the company is expected to get into the NFT space, however, the official stance of the company is still unknown.  BBIG long-term revenue growth and the rising stock price have proven to be a success and an expected investment in NFT’s has peaked investor expectation for the company. Furthermore, the acquisition of Lomotif, the direct competitor of TikTok has given the company a competitive advantage over its peers.

  • Vinco Ventures (NASDAQ:BBIG) earnings and profit surged during the third fiscal quarter

    Vinco Ventures (NASDAQ:BBIG) earnings and profit surged during the third fiscal quarter

    The results for the third quarter ended September 30, 2020 were released by Vinco Ventures (NASDAQ:BBIG).

    Revenues for the third quarter of 2020 rose to $4.25 million compared to $3.53 million in a year ago period, a rise of 20.34 percent.Gross profit for the third quarter of 2020 rose by $593,696 relative to gross profit for the third quarter of 2019, an increase of 60.06 percent .Gross margin for the third quarter of 2020 improved to 37.2 percent compared to the 28.0 percent gross margin for the third quarter of 2019.

    Profits from the third quarter of 2020 fell to $14.80 million compared to $15.24 million, a decline of 2.89 percent.Gross profit for the third quarter of 2020 fell by $4,343 relative to gross profit for the third quarter of 2019, a decline of 0.09 percent.Gross margin for the third quarter of 2020 rose to 32.6 percent compared to a gross margin of 31.7 percent for the third quarter of 2019 .

    In the q3 of 2020, the net loss was $2.87 million, or ($0.30) per basic and diluted share, relative to a net loss of $2.63 million, or ($0.44) in the q3 of 2019, per basic and diluted share.

    Compared to a net loss of $5.78 million or ($1.00) per basic and diluted share in the third quarter of 2019, the net loss for the first nine months of 2020 was $3.20 million or ($0.29) per basic and diluted share.

    In the third quarter of 2020, adjusted EBITDA, a non-GAAP calculation, amounted to negative $0.183 million, relative to negative $1.317 million in the third quarter of 2019.

    In the first nine months of 2020, adjusted EBITDA, a non-GAAP calculation, amounted to negative $ 1,100 million, relative to negative $ 1,511 million in the first nine months of 2019.