BBIG Stock News: Vinco Ventures Inc sinks lower to kick off October on the back foot

NASDAQ:BBIG fell by 4.21% on the first trading day of October.
It was another mixed session for the meme stock sector.
Yet another social media platform is getting involved with NFTs.

Stocks Reporter FXStreet

NASDAQ:BBIG started the first session of October strong, but the blockchain and NFT based company wilted into the closing bell. Shares of BBIG fell by 4.21% on Friday, and closed the trading day at $6.14. Markets got off to a slow start on Friday but the major U.S. indices soared to start the month. The Dow Jones rebounded nicely from Thursday’s sell off and gained 482 basis points, nearly erasing all of its losses from the day before. The S&P 500 and NASDAQ closed higher as well as the markets looked determined to put September’s losses behind them.

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It wasn’t as bullish of a day for the meme sector as the beloved Reddit stocks had a mixed session overall. Meme stocks have struggled and lacked direction, although a majority of the price action has been trending downwards. Shares of AMC (NYSE:AMC) and GameStop (NYSE:GME) traded in the green on Friday, while ContextLogic (NASDAQ:WISH) and social media’s newest darling Camber Energy Inc (NYSEAMERICAN:CEI) tumbled, the latter of which lost over 14% to close the week.

BBIG stock forecast

Lately it seems like a new major brand or platform is getting involved in NFTs or Non Fungible Tokens every day. Earlier this week, Twitter (NYSE:TWTR) reported it would be adding Bitcoin tips to super users, as well as the ability to verify NFTs in user profiles. Now, Chinese owned Tik Tok is getting into the mix by releasing exclusive content and videos from some of its most popular users in the form of NFTs.

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Stocks Reporter

FXStreet

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