Shares of Vinco Ventures Inc. BBIG, +209.42% are Thursday’s highest fliers, soaring nearly fivefold on heavy volume after the mergers and acquisition company, focused on digital media and consumer brands, announced a merger deal with ZASH Global Media and Entertainment Corp. Vinco’s stock, up 388.3% in morning trading, was the biggest gainer trading on major U.S. exchanges, and was on track for the highest close since July 2018. Trading volume exploded to 59.9 million shares, compared with the full-day average over the past 30 days of about 214,000 shares. ZASH aims to build a “virtual Hollywood,” by providing its content partners with analytics and distribution technology to “ensure that consumer eyes are on their content at the right time in the right place.” ZASH boasts that co-Founder Ted Farnsworth is the former chairman of MoviePass, while co-Founder Jaeson Ma was an early investor in Musical.ly (Tik Tok) and Triller video-sharing platforms. “The merger with ZASH and the resulting combined entity provides current and prospective business partners with the assurance of our ability to scale our production and creative services to meet their growing content creation and distribution needs,” said Vinco Chief Strategy Officer Brian McFadden. Prior to Thursday’s rocket ride, Vinco’s stock had tumbled 35.6% over the past 12 months, while the S&P 500 SPX, +0.21% had gained 15.7%.
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