Five Narrow Lane Made a Big Bet on Vinco Ventures (BBIG) Stock

Source: vincoventures.com

Shares of Vinco Ventures rose as high as $2.57 today after Five Narrow Lane disclosed through a 13G form that it had taken a 9.67% stake in BBIG stock. A 13G form implies passive ownership. Meanwhile, its counterpart — the 13D form — indicates active ownership.

Earlier this week, Vinco Ventures reported that it was pushing back its distribution date for Cryptyde. Investors in BBIG stock were not pleased as a result; shares dropped more than 15% this week.

Vinco had originally slated the distribution date for May 27. Unfortunately, though, the U.S. Securities and Exchange Commission (SEC) has yet to approve Cryptyde’s Form S-1. Without approval of the form, the distribution can not occur. BBIG shareholders also have to continue to hold their shares until the distribution date in order to receive the Cryptyde distribution.

Five Narrow seems to be confident in Vinco Ventures despite the distribution date pushback, however. That much is evident from its recent purchase. Let’s get into the details.