Vinco Ventures Inc (BBIG) Stock News and Forecast: Can this one venture any higher?

Update: Vinco Ventures (BBIG) shares are trading lower in Tuesday's premarket despite the stock remaining hot on the list of many retail traders. BBIG stock is also trending heavily on social media today with the Refinitiv heat map showing it to have the biggest interest along with notables such as AMC. This is one is highly volatile making classic chart analysis virtually impossible so please use extreme caution when trading it. BBIG stock is trading at $7.88 in Tuesday's premarket, a loss of 1.4%.

Vinco Ventures is a small-cap retail interest stock that meets all the criteria of a WallStreetBets favourite – being primarily a short squeeze candidate. The WallStreetBets original idea was indeed a clever one: identify high short interest stocks and squeeze them, creating a self-fulfilling move. This morphed into something bigger, a generational and us-versus-them movement. It was maybe even a follow-on from the Occupy Wall Street movement of a few years ago. The ability to squeeze what were seen as Wall Street hedge funds into huge losses played perfectly for the disenfranchised new retail trader who now has access to pricing and information that before was only the preserve of the Wall Street elite. 

Vinco (BBIG) stock kicked off back in January with the original GameStop (GME) move and went from just over $1 to nearly $10 in a matter of days. It has steadily retraced back to around $2 before exploding once again in late August and peaking even higher than the original move, this time to $11.90. The current short interest data from Refinitiv shows a short interest of 42%, pretty high and likely the main reason for the squeeze. Volume has been way above normal. 

As ever with this time of highly speculative retail interest stock, trade extremely carefully. This is a high-risk, lose-everything type of stock, so please treat this as gambling. Only wager money you can afford to lose. This is not investing. If that is what you are after and you accept the risk of losing everything, then go ahead, have some fun!

Vinco Ventures is a company with a focus on the digital media and content sector. It is involved in consumer research and product development in these areas with an emphasis on marketing products and people brand awareness using technology platforms.

BBIG stock forecast

Performing technical analysis on something as volatile as this does not really meet the criteria of technical analysis. Something moving like this can blow through support and resistance levels. Better to try and identify the trend and jump in and out quickly and only risk what you can afford to lose. The only big level that sticks out is $6. This is where it broke through, the high from June, going back below probably ends any bullish sentiment.