Vinco Ventures Inc (NASDAQ:BBIG) Stock Soars 45% in a Month

Those who are currently looking into stocks that have recorded handsome gains over the past month could consider taking a look at the Vinco Ventures Inc (NASDAQ:BBIG) stock. The company, which is involved in making strategic acquisitions using its B.I.G. strategy (Buy Innovate Grow), has seen its stock clock gains of as much as 45% over the course of the past month.

Last week the company announced the spin out of the company Emmersive Entertainment as a separate publicly listed company. Emmersive Entertainment recently got some publicity after it was featured on 60 Minute Plus. Vinco Ventures also revealed that it expects the spin out to be completed at some point in the third quarter of 2021.

However, that was not all. The company also announced that Brian McFadden, who is the Chief Strategy Officer at Vinco Ventures, is going to be in charge of leading Emmersive Entertainment.

McFadden stated that this spin out is a good move since it will allow the capabilities and technology of the company to be more ‘fully realised’. He went on to add that the fact that the shareholders in Vinco are going to have an interest in another publicly listed company is an added benefit.

Market Reaction:

On Friday, BBIG stock fell 3.3% to $4.12 with more than 7.66 million shares, compared to  its average volume of 11.36 million shares. The stock has moved within a range of $4.0400 – 4.2500 after opening the trade at $4.13 Over the past 52-week, the stock has been trading within a range of $1.1100 – 9.4000.