BBIG Stock Forecast: Vinco Ventures continues to struggle while Cryptyde sinks below $1.00

NASDAQ:BBIG extended its recent slide and briefly fell below the $1.00 price level during intraday trading on Wednesday. Shares of BBIG dropped by a further 2.83% and closed the trading day at $1.03. Stocks were volatile on Wednesday as a hotter than expected CPI report for June sent markets reeling during morning trading. Stocks quickly rebounded and erased most of the earlier losses, but all three major indices ended up lower at the closing bell. Overall, the Dow Jones fell by 208 basis points, while the S&P 500 and the NASDAQ posted losses of 0.45% and 0.15% respectively during the session.

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Meme stock leader GameStop (NYSE:GME) posted the first day sales figures from its recently launched NFT Marketplace. The results were about as expected, with the platform bringing in about $45,000 in transaction fee revenues. The platform takes a 2.20% fee per transaction which is how most crypto-related sites earn their income. While it wasn’t a flashy number, it does show that GameStop is becoming a player in the NFT space, even as the industry continues to struggle during the crypto bear market. Shares of GME were up 2.93% on Wednesday.

BBIG stock price

In other meme stock news, AMC (NYSE:AMC) has been trading higher as of late due to a return to normalcy at the box office. The stock has gained about 27% during the last month of trading, and is outperforming the broader markets during that time. Box office demand has actually surpassed pre-pandemic levels for AMC, so many are anticipating that the stock could benefit from the rise in business. Shares of AMC were down by 2.82% on Wednesday.

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