Key points:
- Vinco Ventures (BBIG) stock edged higher on the Big Shaq streaming deal.
- Investors were hoping the deal would unlock more value for the company.
- BBIG stock seems pretty attractive to traders and investors at current prices.
The Vinco Ventures Inc (NASDAQ: BBIG) stock edged higher as investors reacted to news that LoMoTV, Lomotif’s digital entertainment network, would be producing Shaq’s Fun House ahead of the Super Bowl.
The event will take place today and be live-streamed on YouTube’s home page and will feature guest appearances by Lil Wayne, Diplo, Zedd, and DJ Diesel. In addition, other celebrities may make appearances at the festival.
LoMoTV will also stream the event on other platforms, including Twitch, Instagram, and TikTok and will also be available on LoMoTV’s streaming platform.
Also, Read The Best Cheap Tech Stocks Under $10.
Ted Farnsworth of ZVV Media Partners said: “We are excited to be doing this again after our successful live stream of EDC, which hundreds of millions of people viewed. We are deploying our blended media, cross-platform distribution strategy to increase our audience by utilizing the streams of other video platforms, raising our visibility and awareness.”
ZVV Media is a partnership between ZASH Global Media and Entertainment and Vinco Ventures.
While the announcement was made yesterday, the event was scheduled for today. Businesses look forward to capitalizing on the Super Bowl weekend, which creates a shopping bonanza as consumers spend more during the weekend.
Vinco Ventures shares are still trading near the support level identified in my last article on the company and seem pretty attractive to short-term traders and long term investors. I would buy the shares at these levels.
BBIG owns other companies apart from Lomotif, including the digital advertising platform AdRizer, and Cryptyde it non-fungible token (NFT) division.
Vinco plans to list its Cryptyde unit to raise $42 million via an initial public offer (IPO). Cryptyde listing would unlock significant value for Vinco shareholders and reduce Vinco’s share of future profits from the NFT unit.
*This is not investment advice. Always do your due diligence before making investment decisions.
BBIG stock pice.
The Shaquille O’Neal streaming deal led to Vinco Ventures stock edging higher during premarket trading.