In recent months, Vinco Ventures (NASDAQ: BBIG) stock has seen its fair share of ups and downs. Since its debut last year, BBIG has been a popular choice among retail ‘meme stock’ traders.
However, the stock has dropped significantly in recent weeks due to a variety of factors, one of which is a loss of investor confidence due to the ongoing Russia-Ukraine conflict.
Last week, at 1:20 p.m. EST on Monday, BBIG fell nearly 10% to $1.9, approaching its 52-week low. It recovered, however, and closed at $2.03, up 0.2%. Since then, it has been on an upward trend, closing at $2.13 (4.6%), $2.25 (5.6%), $2.35 (4.4%), and $2.48 (4.6%) (5.5%), the following days of the week. Last week, it gained 22.1% in total.
So far, the BBIG stock is indicating higher movement in the Monday premarket, and it appears to be off to a pleasant start this week. And, because the market is so volatile at the moment, it will be interesting to see if the momentum can be maintained.
But one thing is sure: BBIG investors will get a break from the dips Monday morning.
BBIG stock was up 23.7% to $3.07 at the time of writing. It has a market capitalization of $463.89 million and a 52-week range of $1.94-$12.49. There has been no major announcement to explain this surge.
Vinco Venture announced on February 16 that it had “completed the previously announced acquisition of AdRizer LLC, a provider of technology solutions that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying.”
It filed a ‘Form D’ with the SEC (UNITED STATES SECURITIES AND EXCHANGE COMMISSION) on February 10, 2022, to register its first sale of Cryptyde stock.
Vinco Ventures operates 13 consumer and digital marketing brands, including 911 Help Now, SRM Idea Lab, and Ferguson Containers.