Vinco Ventures (NASDAQ:BBIG) stock falls on profit booking

The past few days have been quite hectic for investors in Vinco Ventures Inc (NASDAQ:BBIG) stock. Yesterday the stock was in the midst of a strong sell-off and ended with declines of up to 13% as a result.

Commercial data

On Thursday, BBIG stock slid 13.25% to $3.93 with more than 90.36 million shares, compared to its average volume of 29.01 million shares. The stock moved in a range of $3.8400 to $4.4100 after opening trade at $4.18.

key trigger

However, despite Thursday’s drop, it’s worth noting that Vinco Ventures stock is still up 35% over the past week. In this situation, it may be a good idea to take a closer look at the business and then make a decision about taking action one way or another.

At this point, it should be noted that the company has embarked on a range of activities. Last year, he made headlines after a cash and stock deal to acquire AdRizer LLC for $108 million. Last October, the company changed its name to ZASH in a bid to clarify that it was trying to compete with TikTok.

However, at the same time, Vinco has also entered the bitcoin mining machine business through its subsidiary Cryptyde. At this point, it seems that Vinco is not particularly focused on a single company and this may discourage investors.

technical data

BBIG stock is above the 20-day and 50-day moving averages of $3.30 and $3.22 respectively. However, the stock is trading below the 200-day moving average of $4.11.