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.

Stay up to speed with hot stocks' news!

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.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD rebounds from session lows, stays below 1.1650

EUR/USD is recovers modestly from session lows but remains in the red below 1.1650 in European trading on Thursday. The pair faces headwinds from a renewed uptick in the US Dollar amid a negative shift in risk sentiment. Surging energy prices due to the Middle East war keep the bearish pressure intact on the Euro. The US Jobless Claims data are next of note.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD sticks to losses near 1.3350 in the European session on Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh havem demand ahead of the US Jobless Claims data.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Three reasons to be bearish on Bitcoin

Bitcoin is holding up well taking into account the uncertainty stemming from the Middle East. Despite this week’s rally, the long-term outlook remains bearish. Here are three reasons why I think the storm for the largest cryptocurrency isn't over yet.

Markets attempt to rally on positive news from Iran

There’s been an abrupt change in sentiment this morning, European stock markets are higher and oil and gas prices are moderating, after comments from Iran’s deputy minister about pre-conflict talks between Iran and the US.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.