Vinco Ventures (NASDAQ: BBIG) made significant inroads into blockchain and NFTs in 2021. In recent days, the company has been attempting to compete with the social media behemoth TikTok. The company’s Lomotif app shows serious potential as “the next TikTok,” with millions of active users. With TikTok banned in India, a country with more than 1.4 billion population – Lomotif truly has a lot of potential.
Vinco Ventures is a name that investors haven’t been able to shake in recent months, and for a good reason. At the end of Wednesday’s trading session, the stock was up 23% closing at $2.88. At the time of writing, its market capitalization was $391 million, based on a volume of 33.37 million. According to live data provided by Ortex, the average cost to borrow sits at 35.41% while the utilization is currently at 99.82%. The Estimated short interest is currently at 25.03% of the free float.
The company has worked hard to make itself an irresistible investment, as evidenced by the increase in its stock price and the hype surrounding its ventures. Non-fungible tokens (NFTs) and social media platforms keep it in the spotlight.
However, perhaps no venture is drawing more attention to BBIG stock than its Cryptyde spinoff. And, building on the excitement surrounding the company’s upcoming cryptocurrency-centric spinoff company, Cryptyde, there is a lot of talk about the Lomotif app this week.
Vinco Ventures investors were thrilled to learn that Cryptyde had begun to form in the background. Observant BBIG stockholders have also noticed that people have been updating their Linkedin profiles to reflect their new positions at the newly formed Cryptyde Inc.
Cryptyde currently employs four people: President Brian McFadden, Chief Product Officer Sheldon Swift, Chief of Staff Sheamia S, and Investor Relations Aimee Caroll. Of course, Cryptyde should have more than four employees – but these are only the four who have updated their profiles.
It wasn’t long before ardent BBIG investors noticed Cryptyde’s website was up and running as well. Investors were ecstatic when Benzinga’s Director Corporate Communications, Zoltan Suranyi, tweeted that Vinco Venture’s CEO will be interviewing with them soon – though no date has been confirmed. One thing is sure: BBIG will score big!
Rising Candle has contacted Vinco Ventures Investor relations to get more information/updates on the Vinco-Zash merger, Cryptyde launch date and whether NASDAQ has approved their application for TYDE. We will update you once we get a response.