Vinco Ventures Inc (NASDAQ: BBIG) rallied 21.4% during premarket trading as retail traders on Reddit and Stcoktwits bought the stock making it a top-trending ticker on both platforms.
The meme stock seems to be back in retail traders good graces given today’s gap higher, extending Friday’s rally as the stock fortunes finally reversed.
The digital media company’s shares have been falling since hitting new all-time highs of $12.46, driven by the meme stock frenzy that started in late August.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Retail investors on Reddit and other platforms are back to pumping up Vinco shares given the previous rally, when over one-third of the company’s shares were being shorted.
The short squeeze worked the first time around, and retail investors have stepped in once more to try and pugs the stock back to its recent highs.
We have seen meme stock keep rallying even after the short sellers were forced out of the game, with the gains primarily driven by long buying instead of short covering.
Vinco’s fundamentals are also not that bad given that the company’s joint venture with Zash Global Media and Entertainment owns the Lomotif video platform, which has over 31 million active monthly users and over 225 million app installations.
Retail investors are likely to push Vinco shares much higher this week given Friday’s reversal and today’s premarket rally seem set to reverse the recent selloff.
*This is not investment advice.
Vinco Ventures stock price.
Vinco Ventures stock rallied 21.36% premarket to trade at $7.67, rising from Friday’s closing price of $6.32.
Should You Invest in Vinco Ventures Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
