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.

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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%.

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Stocks Reporter

FXStreet

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