Vinco Ventures (NASDAQ:BBIG) stock could be the next target of a major short squeeze if one analyst is pegging it right. That comes as meme stocks start to lose out on a rally that began earlier this week. With it dying down, retail traders are likely already looking for their next short squeeze targets and that could include BBIG stock.
Vinco Ventures is a selective acquisitions company that seeks to buy digital media and content technologies companies. Its goal is to grow its business by making acquisitions that set it up with growth opportunities.
Will Meade is the analyst behind today’s prediction. Meade is a former hedge fund manager and often takes to Twitter (NYSE:TWTR) to share his investment insights. That’s where today’s talk about BBIG stock comes from.
If $BBIG can get near $5 it will set off an epic short squeeze because the open interest is so bullish 316,000 calls to just 7443 puts. That means market makers are short a whole lot of $BBIG stock which they will have to cover when $BBIG gets close to $5 pic.twitter.com/H5eBOtaAzL
— Will Meade (@realwillmeade) June 4, 2021
Meade doesn’t stop with just one Tweet referring to BBIG stock as having “epic short squeeze” potential. Another one highlights that the stock is now considered “hard to borrow.”
BBIG stock is seeing heavy trading today. As of this writing, more than 44 million shares of the stock have changed hands. That’s a massive jump compared to the stock’s average daily trading volume of 5.1 million shares.
BBIG stock was up 20.9% as of Friday morning and is up 221.6% since the start of the year.
There’s plenty of other stock news worth looking into today as well.
That includes what has shares of Churchill Capital (NYSE:CCIV) on the move, why crypto isn’t doing so hot, as well as what else to expect from the market on Friday. You can get up to speed on these stories at the links below.
More Friday Stock Market News
- CCIV Stock: What the Bulls and Bears Are Saying Ahead of the Lucid Motors Deal
- Why Did Crypto Crash Today? Elon’s Become So Numb.
- What Will the Stock Market Do Today? 3 Big Stories to Watch.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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