GME - Vinco Ventures (BBIG) Stock Soars Higher as Trading Resumes
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Vinco Ventures (NASDAQ:BBIG) stock is trending on various finance sites and on social media today. BBIG stock jumped almost 60% yesterday and is climbing another 30% in early trading this morning.
The rally came after the Nasdaq exchange allowed the trading of Vinco’s shares to resume yesterday morning following the exchange’s imposition of a two-week trading halt on the name.
The Halt and the Resumption of Trading of BBIG Stock
On the afternoon of Aug. 4, Nasdaq disclosed that it had halted trading in BBIG stock. According to the exchange, the trading of the shares was halted because Nasdaq required “additional information” from Vinco Ventures.
“[The] Trading [of BBIG stock] will remain halted until Vinco Ventures, Inc. has fully satisfied Nasdaq’s request for additional information,” stated Nasdaq, which did not provide any details about the information that it was seeking.
On Tuesday, Aug. 16, Nasdaq announced that the trading of Vinco’s shares would resume at 12:30 p.m. Eastern on the same day. The exchange did not provide any other new information.
BBIG stock resumed trading at 76 cents per share. As of 10:00 a.m. Eastern today, the shares were changing hands for $1.22, representing an increase of 60% since they resumed trading.
A Partial Meme-Stock Revival
In recent weeks, the meme-stock phenomenon appears to have been partially resurrected, lifting BBIG stock and multiple other names that have been widely discussed by retail investors on social media.
For example, in the last month, Bed, Bath & Beyond (NASDAQ:BBBY) has jumped nearly 400%, AMC (NYSE:AMC) has advanced 37%, and Koss (NASDAQ:KOSS) has climbed 38%.
Conversely, other meme stocks have not done that well, as GameStop (NYSE:GME) advanced only 7% in the last month, Robinhood (NASDAQ:HOOD) rose only 13% during that period, and Roblox (NYSE:RBLX) added just 13%.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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