BBIG Move Monday?
Ever since we posted an article on BBIG last Friday, the conversation has evolved. What was seemingly just another "short squeeze stock" ended up going viral and seems to be a huge talk on every social media outlet. But With so much hype, it's important to make sure you tune out the noise and look at the full picture. A fib retracement we plotted a while ago was extended to meet up with the recent candles. What's interesting is that the same 50 fib line that acted as a major resistance in February and June held on by a thread Friday BUT this time BBIG managed to close above it just slightly. You've also got the corporate story outside of the technical/speculative "short squeeze" story:
"Shares of BBIG stock have remained on the radar of retail traders for the last few months. As we previously reported, investors anxiously awaited updates surrounding the acquisition of Lomotif Private Ltd. by Vinco and its subsidiary ZASH Global Media and Entertainment. The Lomotif acquisition’s importance was that it’s a Singapore-based video-sharing social networking platform becoming a rival to TikTok and Kuaishou. Fast-forward a bit, and Vinco is now experiencing surging trading action and gained appeal from the Reddit crowd...Lomotif has achieved a record number of Monthly Active Users (MAUs) with over 30 million MAUs, according to Data Analysis Firm Sensor Tower. Furthermore, Vinco recently launched recording Artist Tory Lanez’s album “When It’s Dark” on the E-NFT.com platform. “When It’s Dark” is the first album to go platinum on the blockchain with over 1,000,000 units sold...As far as BBIG stock as a “short squeeze stock to watch,” let’s look at some numbers. According to some outlets reporting short interest, the short float percentage is north of 50%, according to some outlets like FinViz. Given the state of the market and that BBIG has just over 41 million shares outstanding, it could be an interesting thing to track as traders hunt for stocks with high short interest this week."
Quote Source & Read More: 4 Short Squeeze Penny Stocks To Watch After SPRT Stock’s 1,309% Run
"Shares of BBIG stock have remained on the radar of retail traders for the last few months. As we previously reported, investors anxiously awaited updates surrounding the acquisition of Lomotif Private Ltd. by Vinco and its subsidiary ZASH Global Media and Entertainment. The Lomotif acquisition’s importance was that it’s a Singapore-based video-sharing social networking platform becoming a rival to TikTok and Kuaishou. Fast-forward a bit, and Vinco is now experiencing surging trading action and gained appeal from the Reddit crowd...Lomotif has achieved a record number of Monthly Active Users (MAUs) with over 30 million MAUs, according to Data Analysis Firm Sensor Tower. Furthermore, Vinco recently launched recording Artist Tory Lanez’s album “When It’s Dark” on the E-NFT.com platform. “When It’s Dark” is the first album to go platinum on the blockchain with over 1,000,000 units sold...As far as BBIG stock as a “short squeeze stock to watch,” let’s look at some numbers. According to some outlets reporting short interest, the short float percentage is north of 50%, according to some outlets like FinViz. Given the state of the market and that BBIG has just over 41 million shares outstanding, it could be an interesting thing to track as traders hunt for stocks with high short interest this week."
Quote Source & Read More: 4 Short Squeeze Penny Stocks To Watch After SPRT Stock’s 1,309% Run
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