Singapore markets close in 6 hours 26 minutes
  • Straits Times Index

    +11.44 (+0.35%)
  • Nikkei

    -235.84 (-0.85%)
  • Hang Seng

    +319.63 (+1.70%)
  • FTSE 100

    -32.20 (-0.43%)

    -221.10 (-1.30%)
  • CMC Crypto 200

    -7.38 (-1.84%)
  • S&P 500

    -7.34 (-0.19%)
  • Dow

    +1.58 (+0.00%)
  • Nasdaq

    -56.34 (-0.51%)
  • Gold

    -3.30 (-0.18%)
  • Crude Oil

    +0.56 (+0.78%)
  • 10-Yr Bond

    -0.1050 (-2.99%)
  • FTSE Bursa Malaysia

    -2.36 (-0.16%)
  • Jakarta Composite Index

    -62.98 (-0.92%)
  • PSE Index

    -149.22 (-2.24%)

Vinco Ventures stock soars, Goldman Sachs conducts first OTC bitcoin option trade, Al Michaels strikes deal with Amazon

Yahoo Finance Live examines several of the day's trending stock tickers.

Video transcript

RACHELLE AKUFFO: Welcome back to Yahoo Finance Live, everyone. It's time for our triple play, the three tickers that we're watching that are making moves today. Now, for my ticker, I went with Vinco Ventures, ticker symbol BBIG. Now, this is an interesting holding company known for owning social media platform Lomotif. Now, that's similar to TikTok in terms of its style. It's based in Singapore with operations in India. Now, as you can see today, it's up more than 20% today.

Now a lot of people are wondering how long this is going to last because they're wondering if this reflects another short squeeze for the company. Now the excitement is also coming from plans to spin off crypto. That's its cryptocurrency and NFT unit, and that's supposed to happen in early '22. But this does seem to be a lot of FOMO-driven enthusiasm, a lot of fear of missing out of where the company could go because this is still very volatile. And a lot of people are thinking this might be a better space for day traders due to its volatility. So we have to keep an eye on this one.

BRAD SMITH: Yeah, it had a massive spike in about August of '21. And it begs the question on what fundamentals investors may be looking at or if, to your point, it's really a lot of social and chatter that is perhaps pushing some of the optimism around Vinco. But over the past year, 52 weeks down by about 11%, so we'll see exactly where they can find some stability in this longer term range as well. But an interesting one, BBIG to track here on the day.

I got to bring Goldman Sachs into the chat here because this one is an interesting one, even though it's moving lower on the day by about 2% here. A big move as they have partnered with a company in Galaxy Digital, essentially, to bring more crypto trading to the forefront here and through an over-the-counter type of crypto trade. And so, this compares to some of the other assets that we had seen enter into the market last year that were kind of the first ETF exposures, if you will, to Bitcoin, BITO from ProShares. You also saw Valkyrie.

But this is a little bit more of the direct exposure, and it's interesting because now you've got big banks signaling even more of their own annexation, or they're just listening to customers who may want to have some type of direct Bitcoin exposure. And so in one method, it's going to be the directness. In the others, it's just investing in companies that have Bitcoin, perhaps, on their balance sheet. And so this is a very interesting way forward for Goldman Sachs. And we'll see where some of the other banks and their trading desks also allow some of these opportunities going forward.

DAVE BRIGGS: Yeah, we'll see if it encourages others to get in the game. My play, even though it's the middle of March Madness, is football. Of course, NFL is king. My play, AMZ, and Amazon today signs Al Michaels, the legendary sports broadcaster, to anchor its Thursday night football package. Now Amazon paid a billion bucks a year to get into the NFL game, an 11-year deal. Al Michaels comes over from NBC in what's reported to be a deal well north of $10 million a year. That has now become commonplace in NFL broadcasting circles, which is stunning, given these guys are now clearing about a million bucks per game to talk football.

Now, Amazon will begin to dominate this space. Just give them some time. Thursday night football, their first venture into the NFL space. As for the stock, it's been a volatile day, up $3.67 a share, now just about 5 bucks a share, a fraction of a percent, 3,229 on the day.

So Brad, I'm curious. I've always thought that 10 million bucks a year was a plateau we'd never see for NFL broadcasters, because quite frankly, I think fans come in two categories-- those who will watch every game, no matter who is calling it, they're watching a team, or the casual fan, like Rachelle, who, from time to time, watches their team play. I don't know a single person who tunes in for a broadcaster. How about you?

BRAD SMITH: You know, I don't know that I've ever tuned in specifically, at least in the NFL, for a specific broadcaster. I know that I've done so on the college basketball side before. Everybody always wanted to listen to Dickie V. And then there are a host of new players-- well, new commentators as well-- that have played college basketball and played at a very high level. Jay Williams, always fun to hear him on any of the college basketball airwaves. But I don't know that if I've done that for football specifically.

So I think Al Michaels, again, this is a great opportunity for him. And we'll see for Amazon, who spent a lot of money on trying to get some of these sports rights, and it's continually come through the NFL. They had a partnership back in, what, 2017 that really initiated this relationship with the NFL, trying to get Thursday night games.

And so with that in mind, I think the spending that they've done just continues to show the effort that they have not just for getting those rights for viewers to get them further into the Amazon ecosystem, but also to make it look more cozy for advertisers and appealing for not just the second screen experience, but for the sake of conversion on those ads that they may be running within an Amazon broadcast as well.

DAVE BRIGGS: Yeah, if there's one outlet that I think it does make sense-- sorry, Rachelle-- it is Amazon because they are trying to establish itself as a reputable player in this game, whereas maybe it doesn't make enough sense for CBS or ESPN. They're already established, but for Amazon to come in with the voice of the NFL over the last-- well, he's done 11 Super Bowls, so over the last couple of decades, does make some sense. And when you think about a lot of people trying to think about, do we really need Amazon Prime as we're coming out of COVID, this is a good reason to stick with it.

RACHELLE AKUFFO: Well, guys, we will have to leave that there.