BBIG - TikTok could be banned in the U.S. - would that boost Vinco Ventures stock?

2023-03-23 13:55:43 ET

TikTok CEO Shou Chew faced questions at a Congressional hearing on Thursday as legislators continue to weigh a ban or forced sale for an app that has at least reached 150M active users in the U.S.

While a full TikTok ban in the U.S. is seen as a potential boon to major social media sites like Instagram, YouTube, Snap, and Pinterest - there are also smaller players like Vigo Video, Triller, Cheez, Lomotif, and Vigo Video that could benefit as well.

Vinco Ventures ( NASDAQ: BBIG ) has stated that its Lomotif platform stands ready to step up and fill the void created by a potential TikTok ban. Lomotif is described as a mobile social media and video editing app with a simple and user-friendly interface that makes it easy for anyone to create professional-looking videos using their smartphone. Just like TikTok, Lomotif is designed specifically for short-form videos to be shared in an app-based ecosystem. Of course, a major difference is that the app is owned by a U.S. company and will not face the same political headwinds as a China-owned business. Last October, Vinco Ventures ( BBIG ) updated that Lomotif has about 225M app installations across around 200 countries globally.

Google search trends have spiked a few times in the last few weeks for "Lomotif" and "TikTok alternatives" - but there is no huge wave just yet to tip off a surge of new users away from TikTok.

Vinco Ventures ( BBIG ) only added a penny to its share price on Thursday to move to $0.35 vs. the 52-week trading range of $0.32 to $2.35. In September of 2021, BBIG traded as high as $9.89.

Last week, a group of retail investors made a push to land a seat on the Vinco Ventures board.

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