- NASDAQ:BBIG gained 1.28% on Friday to snap its five-day losing streak.
- Meme stocks have another volatile day to close the week.
- A major social media platform is getting into the NFT game.
NASDAQ:BBIG finally reversed its downward trend and managed to close the week on a positive note. On Friday, shares of BBIG gained 1.28% and finished the trading session at $6.32. The bullish bounce came at the end of the day as BBIG surged into the closing bell, erasing the losses from earlier in the day. The move higher also came alongside a push by the Dow Jones and the S&P 500 which managed to finish the day in the green after trending lower for the better part of the session. The NASDAQ was the lone major index to close in the red, as it edged lower by 0.03%.
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Meme stocks closed the week on a mostly sour note, with Vinco Ventures and AMC (NYSE:AMC) as the only major stocks to finish higher. Meanwhile, GameStop (NYSE:GME), ContextLogic (NASDAQ:WISH), and SmileDirectClub (NASDAQ:SDC) all traded lower on Friday. Vinco Ventures put an end to its recent five day losing streak, but still closes the week down over 11%. The NFT and Blockchain-based company had a nice run up to its all-time high price of $12.49, but has done little in the way of showing investors it will return to those levels in the near future.
BBIG stock forecast
On the topic of NFTs, Twitter (NYSE:TWTR) announced that it is beginning to explore the NFT market. The first step is to authenticate existing NFTs that users use as their profile pictures. Investors might recall that Twitter CEO Jack Dorsey is also the CEO of Square (NYSE:SQ), which is heavily into cryptocurrencies and NFTs. Twitter is also implementing the ability to tip certain Twitter users with Bitcoin, rather than fiat currencies.
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