Bullish option flow was detected in BBIG stock last week. On Friday, January 14, 2022, BBIG stock was one of the most actively traded stocks on Wall Street. The stock traded a high volume of 152.65M shares.
Bullish Option Flow
Make sure to review this lesson on option flow so that you understand the image above.
💥 BBIG Stock Pop On Cryptyde Launch
In late August 2021, news of a crypto acquisitions spinoff company called Cryptyde was released. This will be the company’s next major venture — one that will ultimately become its own publicly traded entity under the TYDE ticker symbol. It will also see Vinco Ventures merge with Zash into a single entity.
Speculation that Cryptyde is days away from launching was confirmed by the popular financial data aggregator Fintel. Fintel appears to have launched a dedicated Cryptyde web page to track TYDE stock data ahead of the IPO. Investors are taking this as a hint that the debut of the stock is imminent. Here is the webpage on Fintel: https://fintel.io/s/us/tyde
Vinco Ventures, Inc. Reports Financial Results for the Third Quarter Ended September 30, 2021
On November 22, 2021, Vinco Ventures, Inc. (NASDAQ:BBIG), a digital media and content technologies holding company announced results for the third quarter ended September 30, 2021.
“We are very pleased with our operational developments in the quarter, which included key building blocks of our strategy to create a global media and content platform,” said Lisa King, Chief Executive Officer of Vinco Ventures. “Importantly, through our joint venture, ZVV Media, we completed the acquisition of an 80% interest in Lomotif, a global, pure-play video-sharing social networking platform and we are making good progress on extending the brand to additional geographies, including the U.S. and India. We also announced the planned spin-off of our blockchain business, Cryptyde,” continued Ms. King.
- Vinco Ventures and ZASH Global Media and Entertainment Corporation through their joint venture, ZVV Media Partners, LLC (“ZVV”), completed the acquisition of an 80% interest in Lomotif Private Limited (“Lomotif”).
- Lomotif officially launched in India this past weekend following the beta test in the third quarter. Lomotif worked in India with Social Kyte, a popular influencer platform with over 90,000 member influencers. The Lomotif expansion into India, a large target market, continues to progress with user growth.
- Lomotif worked with EDC Las Vegas to extend the Lomotif brand in the U.S. through a three-day event in October that reached and engaged a large audience. Specifically, Lomotif activated over 150 influencers and the Lomotif brand received over 51 million views on TikTok and over 40 million Instagram story views.
- ZVV through its business arrangements with Zash completed its first TV series, Preach, and its first feature film, Camp Hideout. Both projects are expected to be monetized in the first half of 2022.
- Cryptyde is set to release the limited-edition Nick Cannon Presents: SucStress – The E-NFT Album, featuring Nick Cannon and the Ncredible Gang, on its E-NFT.com platform.
- Cryptyde recently launched recording Artist Tory Lanez album “When It’s Dark” on the E-NFT.com platform. “When It’s Dark” is the first album to go platinum on the blockchain with over 1,000,000 units sold.
- The Company’s subsidiary, Cryptyde, Inc. (“Cryptyde”), filed its preliminary Form 10 registration statement with the SEC in connection with the planned spin-off of Cryptyde, which currently owns, directly or indirectly, 100% of EVNT Platform, LLC, CW Machines, LLC and Ferguson Containers, Inc. The distribution date is expected to occur in early 2022.
- EVNT Platform, LLC launched a business effort, CW Machines, LLC, with Wattum Management, a global supplier of bitcoin mining equipment and services. The venture is expected to focus on simplifying consumer ownership of mining equipment through the integration of smart contract technologies.
Third Quarter 2021 Financial Highlights:
- Cash, cash equivalents, and restricted cash totaled $149.9 million at September 30, 2021.
- Revenue decreased 11.5% to $2.23 million from $2.52 million in the third quarter of 2020, driven primarily by the decrease in sales of personal protective equipment in the Edison Nation Medical division.
- Gross profit margin decreased to 31.4% from 40.3% in the third quarter of 2020. The decrease is mainly attributed to the decrease in sales of personal protective equipment in the Edison Nation Medical division.
- Selling, general and administrative expenses were $25.9 million, of which $6.2 million was stock based compensation, $5.6 million was due to legal and professional fees related to transactions and filings, and $5.1 million and $6.2 million related to the operating expenses (excluding Stock Based Compensation) of ZVV and Lomotif, respectively, since the close of the Lomotif transaction on July 23, 2021.
- Net loss in the third quarter of 2021 was $542.5 million, or ($7.59) per basic and diluted share, compared to a net loss of $2.8 million, or ($0.30) per basic and diluted share in the third quarter of 2020. The increase in the net loss is primarily due to the issuance of warrants during the quarter and the change in estimated fair value of outstanding warrants as of September 30, 2021, as well as the costs associated with the Lomotif transaction and the results of its operations, which were consolidated into the Company’s financial results for the first time this quarter. On a non-GAAP basis, net loss for the three months ended September 31, 2021 without the $494.1 million of losses due to warrant activity was $48.4 million or ($0.68) per share. See below for reconciliation of Non-GAAP information to the most comparable measure calculated under U.S. generally accepted accounting principles (“GAAP”).
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📈 BBIG Stock Technical Analysis
The long-term trend is still neutral, but the short-term trend is positive, so the stock is getting more and more appreciated by traders and investors. BBIG is one of the better-performing stocks in the Leisure Products industry, it outperforms 96% of 32 stocks in the same industry. Volume is considerably higher in the last couple of days, which is what you like to see during a strong move-up. Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
There is support at 2.32 from a trend line in the daily time frame. There is also support at 2.19 from a horizontal line in the daily time frame. BBIG has an average technical rating and it also does not offer a high-quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when BBIG stock consolidates and is a good long entry.