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Why Vinco Ventures Stock Surged Today

TheMotleyFool

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Vinco Ventures (NASDAQ: BBIG) had another wild day of trading on Wednesday. Shares of the technology-focused acquisitions company swung between a loss of 10% to gains of as much as 46%, before ending the day up 15.6%.

A joint venture between Vinco Ventures and Zash Global Media and Entertainment acquired short-form video platform Lomotif in July. Lomotif has more than 225 million app installations and over 31 million monthly active users worldwide. Notably, it's expanding into India, a potentially massive market for social media where rival TikTok is banned.

Shares of Vinco Ventures are up sharply this year. Image source: Getty Images.

Source Fool.com

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