BBIG Stock Forecast: Vinco Ventures rises to close the week after executive shuffle

NASDAQ:BBIG gained 4.90% during Friday’s trading session.
Investors are wondering if a two-CEO system can work for Vinco Ventures.
AMC gains as Top Gun: Maverick breaks a domestic box office record.

Stocks Reporter FXStreet

NASDAQ:BBIG snapped its recent losing streak as investors took time to digest the latest shuffle that the company announced for its executive suite. On Friday, shares of BBIG rose by 4.90% and closed the trading week at $1.07. Investors shrugged off a rocky start to earnings season and a record CPI report from June as all three major indices soared higher into the weekend. Overall, the Dow Jones added 658 basis points, the S&P 500 gained 1.92%, and the NASDAQ posted a 1.79% rise during the session.

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While BBIG bounced back on Friday from its recent skid, investors are likely wondering if a dual-CEO or Co-CEO as the company calls it, can work. On Thursday, Vinco Ventures appointed Ted Farnsworth as a new Co-CEO, joining the current CEO, Lisa King in the executive office. Can a dual-CEO team work for the struggling company or is this a prelude for King to perhaps be replaced in the future? Investors seemed to be reacting positively right now, but time will tell if the two CEOs can help Vinco Ventures recover from its dramatic fall in price so far in 2022.

BBIG stock price

In other meme stock news, AMC (NYSE:AMC) was rallying higher alongside the markets after some great news from the box office. First, it looks as though Thor: Love and Thunder will once again take top spot at theaters this weekend. But the real positive news is that Top Gun: Maverick has now surpassed Titanic as the highest grossing Paramount film at domestic theaters. So far it has brought in over $606 million domestically and over $1.2 billion globally, which of course is a great sign for AMC. Shares of AMC were trading higher by 2.06% on Friday.

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Stocks Reporter

FXStreet

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