Retail investors ramped up buying last week, boosting Vinco: JPM

Vinco Ventures

01/09/2021 22:12

** Retail investors went on a buying spree last week,
purchasing at an average pace of $689 mln/ day compared with the
12-month average of $565 mln, writes JPMorgan's Peng Cheng 
    ** Vinco Ventures  BBIG.O  had the largest inflow from
retail investors among single stock names, with around $114 mln,
while Cassava Sciences  SAVA.O  saw the biggest net selling
imbalance with $57 mln outflow, the bank said in a recent
report.
    ** BBIG, after rising 120% last week and on track for a ~78%
gain so far this week, closed up 15.5% on Wednesday. SAVA closed
down 8.6% on Wednesday and after dropping 44% last week, was on
track for a roughly 11% drop this week.   
    ** Cheng notes that retail traders preferred buying megacap
technology companies using options. The six stocks with the most
bullish option flow were led by Tesla  TSLA.O  and Amazon.com
 AMZN.O , accounting for estimated 20% of total volume on these
stocks.
   ** Also, retail activity in August was particularly strong
for large-caps, while small-caps were only slightly above
average YTD, Cheng wrote.

    






 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com))