Vinco ventures (BBIG Stock) bullish setup forming

Vinco Ventures is an interesting company with an intriguing business model. It has been fairly volatile the within the 2021 year and it looks like the swings are just starting.

“Vinco Ventures, Inc. leverages the new market opportunity by utilizing their B.I.G. Strategy: Buy.

Innovate. Grow. Buy – Acquisitions is our model. We will seek to acquire significant brands to continue to add to the Portfolio.

Innovate – Leverage the internal traffic platforms of Honey Badger and Social Pulse Media, our brands are able to quickly innovate and determine the highest conversion traffic and target accordingly. Once identified, we scale while maintaining conversions for success.

Grow – More targeted traffic equals more conversions. With our internal engines, we are able to expedite growth of our acquired brands to reach their target numbers quicker.”

Recently this company has involved itself with the NFT sphere (non-fungible token) which is quickly gaining in popularity. This exposes the company in a round about way, to the Ethereum blockchain.

Vinco ventures Elliottwave view

Medium term term view from the all time low in Jan 2021. Vinco consolidated for a few days and gapped up to the wave Red I peak on Jan 21/2021 @ 9.40. After that, a lengthy consolidation took place which bottomed in Red II on April 16/2021. From there, a 5 waves advance took place into (1) which peaked on June 9/2021. Again, another pullback took place in (2) which bottomed on 8/19/2021. After that, a very impulsive rally took hold which caused a rally of 590% and now the stock is consolidation.

The idea is that there is an incomplete bullish sequence right now, and further up[side is favoured to take place. Another nest is possible in ((1)) and ((2)) before further upside takes place.