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Highlights
- Naked Brand Group (NASDAQ:NAKD) signaled a possible merger with a clean technology company, although nothing has been finalized yet.
- Vinco Ventures, Inc’s (NASDAQ:BBIG) subsidiary EVNT Platform is set to launch the world's first NFT streaming movie soundtrack.
- NAKD rose 241% YTD, and BBIG rose 468% YTD.
Stocks of Naked Brand Group Limited (NASDAQ:NAKD) and Vinco Ventures, Inc. (NASDAQ:BBIG) were drawing investors’ attention in recent days.
On Monday, the NAKD stock had jumped 9.46%, while BBIG was up 19.30% in the pre-market trading. However, the stocks were down on Tuesday. NAKD declined 3.96% to US$0.80, and BBIG dipped 11.17% to US$6.20 at the market close.
Naked Brand Group
NAKD is an apparel and swimwear company that designs, manufactures and markets licensed brands. It earns revenue majorly from the e-commerce segment. The company is based in Double Bay, Australia. Naked Brand’s trading volume was 373,686,100 on Sep 27.
Last week, the stock saw huge trading volume after updating on the chairman’s address at the annual shareholders’ meeting in August.
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At the meeting, the company also revealed that it had found a clean technology company for a possible merger and acquisition. However, it did not disclose the name, except that the talks were positive.
For the FY ended January 31, 2021, it posted revenue of NZ$80.04 million and a total comprehensive loss of NZ$(72.83) million. Its market capitalization is US$620 million.
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Source – pixabay
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Vinco Ventures, Inc.
Vinco provides toy products and packaging materials. In a first, the Doylestown, Pennsylvania-based firm’s subsidiary EVNT had launched a Grammy winners’ soundtrack through NFT streaming. It will be available on www.e-nft.com for US$3 for a month, starting Sep 21.
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The stock rose following the announcement last week. It saw a significantly high trading volume of 44,391,930 on Sep 24. Its share volume was 82,231,390 on Sep 27.
BBIG posted revenue of US$2.69 million and a net loss of US$(178.9) million for the June quarter of 2021. BBIG’s market cap is US$614.8 million.
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Bottomline
Both the e-Commerce and packaging industries are growing rapidly with the boom in online sales of late. The NAKD rose 241% YTD, and the BBIG jumped 468% YTD. However, investors should evaluate the companies carefully before investing in stocks.
