BBIG Stock News: Vinco Ventures Inc tumbles to close out September OPEX week

NASDAQ:BBIG fell by 6.61% as the broader markets sold off to close the week.
Investors were taken for a rough ride during September OPEX week.
Meme stocks fell to close the week as earlier gains were erased.

Stocks Reporter FXStreet

NASDAQ:BBIG finished off a disappointing week of trading as shares fell more than 25.0% during the past five days. On Friday, shares of BBIG fell by 6.61% and closed out the week at $7.77. The sell off came as all three major indices tumbled into the weekend, with both the NASDAQ and S&P 500 shedding 0.91%, while the Dow Jones dropped by a further 166 basis points. Vinco Ventures Inc lagged the broader markets, and has shown considerable volatility over the past month. Over the past 30 trading days, the stock has gained 212.05%, so the 25.0% drop during the past week could be seen as a healthy pullback.

Stay up to speed with hot stocks' news!

The added volatility during the past week came as September OPEX or Options Expiry week came to an end. OPEX weeks seem to have a particularly strong effect on meme stocks like Vinco Ventures, although retail investors will be quick to point out that each short squeeze of GameStop (NYSE:GME) and AMC (NYSE:AMC) have come immediately following an OPEX week. Redditors and other retail traders remain ever hopeful that the large short percentage in BBIG will also lead to a similar surge.

BBIG stock forecast

Speaking of AMC and GME, the meme stock sector was trading lower during Friday’s session. AMC fell by 4.00%, while GameStop edged lower by 0.73%. A big winner from earlier in the week was Ironnet Inc (NYSE:IRNT), but the stock gave back most of its gains on Friday, when shares fell by 26.91%. On a positive note, SmileDirectClub (NASDAQ:SDC) defied the markets and jumped by 11.67%.

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 looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.