Vinco Ventures (NASDAQ:BBIG) stock is running higher on Monday as Reddit and retail traders on social media pump shares up.
We’ve been covering BBIG stock quite a bit lately as it continues to be a hot stock with major movement. That includes it ranking high in our list of pre-market stock movers for this morning. We also dived into what experts had to say about it last week.
Now we’re tackling it again with some details that traders will want to know about BBIG stock.
- Vinco Ventures is a company focused on acquiring and growing companies.
- It does so through its B.I.G. Strategy: Buy. Innovate. Grow.
- One of the most recent shifts in its business has it targeting the non-fungible token (NFT) market.
- Emmersive Entertainment, a subsidiary of Vinco Ventures, is already making progress in the NFT space.
- That includes the launch of a music streaming NFT platform and a promotion with Tory Lanez.
- However, there are still concerns about the company’s business.
- That includes issues that some people have with NFTs and their connection to crypto.
- There are also worries about Ted Farnsworth’s involvement in Vinco Ventures’ NFT business.
- Farnsworth is the creator of MoviePass, which blew up in spectacular fashion a few years back.
- While the potential of BBIG in the NFT space is there, investors will want to keep the above in mind before diving into the stock.
Of course, BBIG is also seeing heavy trading today with the interest from meme stock traders. As of this writing, more than 178 million shares of the stock have changed hands. That’s a massive jump from the company’s daily average trading volume of 18.4 million shares.
BBIG stock was up 52.5% as of Monday morning.
Investors looking for more stock market news today will want to stick around.
We’ve got plenty of stock stories worth taking a look at as trading heats up on Monday. That includes a look at WonderFi, today’s pre-market stock movers, as well as a reminder of the big stock stories from Friday. We’ve got all of that ready to go at the links below!
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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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