Since last year, Vinco Ventures Inc.(NASDAQ: BBIG) stock has been a particular favorite among retail ‘meme stock’ investors. As the company is transitioning into the lucrative digital media and AI sectors, BBIG stock could be a smart long-term investment at its current PPS. Given that Cryptyde’s spin-off date has been set, BBIG stock has seen significant demand pre-market – leading to a 35% climb. With the company set to pay a share dividend of Cryptyde to shareholders as of May 18th, BBIG stock could soar during this timeframe.
Cryptyde Spinoff
After announcing its intention to spin off Cryptyde, BBIG announced that Cryptyde has entered into definitive agreements to raise $42 million. According to this agreement, Cryptyde will sell $33 million worth of convertible notes to an investor for $10 per share and will sell an additional 1.5 million shares to another investor for $8 per share.
Cryptyde’s CEO Brian McFadden was thrilled about both agreements and believes “the capital will allow the company, after its expected spin-off, to scale its business model at an expedited pace without sacrificing shareholder value”.
This comes after Cryptyde filed the second amendment to its registration statement – which included the 2021 financial report of Ferguson Containers. This financial report highlighted significant growth for the subsidiary which reported almost $8 million in revenues. Considering that its subsidiary is already producing significant revenue, many investors are bullish that BBIG stock price will receive a major boost from Cryptyde’s expected spin-off.
Share Dividend
With many investors anticipating Cryptyde’s spin-off, BBIG stock received a major boost after the company announced a share dividend of Cryptyde for shareholders as of May 18th. Based on this dividend, holders of 10 BBIG shares will receive 1 share of Cryptyde with the dividend expected to be distributed by May 27th. Given the major potential of Cryptyde, investors have been buying BBIG stock to receive TYDE shares. With this in mind, BBIG stock could continue climbing until May 18th as more and more investors look to secure TYDE shares.
BBIG Stock Financials
Looking at BBIG’s financials, the company’s acquisitions led to a significant increase in assets from $28 million in 2020 to $405 million. However, liabilities increased as well to $271.4 million compared to $14.5 million. This increase in liabilities is mainly the result of BBIG reporting $198.5 million as derivative liability. Despite this growth in assets, BBIG’s revenues saw a 20% decline to $9.7 million after reporting $12 million in the previous year while operating expenses jumped to $82.6 million. In this way, BBIG had a net loss of $713.1 million compared to $5.1 million net loss for 2020.
Although these financials are underwhelming to many investors, this could be due to the company transitioning into a new industry. With this in mind, BBIG could report better financials in 2022 as it continues developing its TikTok competitor Lomotif.
Technical Analysis
Currently trading at $3.29, BBIG stock price rocketed after announcing its share dividend for Cryptyde. BBIG stock shows a main support at 2.69 and a weak support at 2.85. With a resistance at 3.30, BBIG stock is attempting to push past this resistance to retest its resistance at 3.84. Considering that some investors are giving price targets as high as $10, the next resistance would be 4.69 – a massive run for BBIG stock. However there is a notable gap between 2.57 and 2.99.
Considering the bullish sentiment surrounding TYDE stock, BBIG stock’s accumulation is on a major upward trend. This has forced to 77 and the MACD is bullish. Given that the dividend will be paid to shareholders as of May 18th, BBIG stock could continue running until that date as many investors look to secure a position in TYDE stock. However, this is not the time to chase, if the stock drops near its support at 2.69 or 2.89 that could be a suitable entry point for investors looking to get in on the TYDE stock dividend.
BBIG Stock Forecast
In light of the company’s ventures into several lucrative markets, long-term investors may see a profitable return on their investment as BBIG fulfills its acquisitions and continues to develop Lomotif. With Cryptyde’s spin-off date set, BBIG stock could see new highs as investors try to secure shares of TYDE stock following the spinoff. Since each holder of 10 BBIG shares will receive 1 TYDE share as of May 18th, BBIG stock could continue to run in the lead up. In the long-run, BBIG shows notable potential as it explores synergies between its acquisition of AdRizer, HoneyBadger and Lomotif.
Cryptyde Spinoff
After announcing its intention to spin off Cryptyde, BBIG announced that Cryptyde has entered into definitive agreements to raise $42 million. According to this agreement, Cryptyde will sell $33 million worth of convertible notes to an investor for $10 per share and will sell an additional 1.5 million shares to another investor for $8 per share.
Cryptyde’s CEO Brian McFadden was thrilled about both agreements and believes “the capital will allow the company, after its expected spin-off, to scale its business model at an expedited pace without sacrificing shareholder value”.
This comes after Cryptyde filed the second amendment to its registration statement – which included the 2021 financial report of Ferguson Containers. This financial report highlighted significant growth for the subsidiary which reported almost $8 million in revenues. Considering that its subsidiary is already producing significant revenue, many investors are bullish that BBIG stock price will receive a major boost from Cryptyde’s expected spin-off.
Share Dividend
With many investors anticipating Cryptyde’s spin-off, BBIG stock received a major boost after the company announced a share dividend of Cryptyde for shareholders as of May 18th. Based on this dividend, holders of 10 BBIG shares will receive 1 share of Cryptyde with the dividend expected to be distributed by May 27th. Given the major potential of Cryptyde, investors have been buying BBIG stock to receive TYDE shares. With this in mind, BBIG stock could continue climbing until May 18th as more and more investors look to secure TYDE shares.
BBIG Stock Financials
Looking at BBIG’s financials, the company’s acquisitions led to a significant increase in assets from $28 million in 2020 to $405 million. However, liabilities increased as well to $271.4 million compared to $14.5 million. This increase in liabilities is mainly the result of BBIG reporting $198.5 million as derivative liability. Despite this growth in assets, BBIG’s revenues saw a 20% decline to $9.7 million after reporting $12 million in the previous year while operating expenses jumped to $82.6 million. In this way, BBIG had a net loss of $713.1 million compared to $5.1 million net loss for 2020.
Although these financials are underwhelming to many investors, this could be due to the company transitioning into a new industry. With this in mind, BBIG could report better financials in 2022 as it continues developing its TikTok competitor Lomotif.
Technical Analysis
Currently trading at $3.29, BBIG stock price rocketed after announcing its share dividend for Cryptyde. BBIG stock shows a main support at 2.69 and a weak support at 2.85. With a resistance at 3.30, BBIG stock is attempting to push past this resistance to retest its resistance at 3.84. Considering that some investors are giving price targets as high as $10, the next resistance would be 4.69 – a massive run for BBIG stock. However there is a notable gap between 2.57 and 2.99.
Considering the bullish sentiment surrounding TYDE stock, BBIG stock’s accumulation is on a major upward trend. This has forced to 77 and the MACD is bullish. Given that the dividend will be paid to shareholders as of May 18th, BBIG stock could continue running until that date as many investors look to secure a position in TYDE stock. However, this is not the time to chase, if the stock drops near its support at 2.69 or 2.89 that could be a suitable entry point for investors looking to get in on the TYDE stock dividend.
BBIG Stock Forecast
In light of the company’s ventures into several lucrative markets, long-term investors may see a profitable return on their investment as BBIG fulfills its acquisitions and continues to develop Lomotif. With Cryptyde’s spin-off date set, BBIG stock could see new highs as investors try to secure shares of TYDE stock following the spinoff. Since each holder of 10 BBIG shares will receive 1 TYDE share as of May 18th, BBIG stock could continue to run in the lead up. In the long-run, BBIG shows notable potential as it explores synergies between its acquisition of AdRizer, HoneyBadger and Lomotif.