Why NewAge Shares Are Falling Today

NewAge Inc NBEV shares are trading lower after the company issued fourth-quarter 2021 revenue guidance below estimates.

NewAge announced that the company anticipates preliminary, unaudited net revenue in the range of $99 million to $101 million for the fourth quarter ended December 31, 2021.

On Monday, NewAge also filed a Form 8-K with the SEC announcing that the NewAge, Inc. Board of Directors and the Chief Executive Officer, Brent Willis, have agreed that Mr. Willis will resign as Chief Executive Officer, Director and employee, effective immediately.

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NewAge is engaged in the business of developing, marketing, selling, and distributing a portfolio of healthy products sold primarily through a direct-to-customer business model using a team of brand partners and distributors to help market and sell the portfolio of brands.

NewAge has a 52-week high of $4.55 and a 52-week low of $0.90.