Why Vinco Ventures Shares Are Falling Today

Vinco Ventures Inc BBIG is trading significantly lower Wednesday following a management transition in which the CEO and CFO resigned. 

Vinco Ventures CEO Christopher Ferguson announced his resignation from the company, effective on Oct. 25. The company's CFO, Brett Vroman, also resigned, effective on Nov. 4.

Related Link: Vinco Ventures Stock Plummets After CEO And CFO Resign

The company announced Wednesday morning that Ferguson, former CEO of Vinco Ventures, has agreed to a three year deal to serve as a senior strategic advisor with Vinco Ventures' parent company ZASH Global Media. Vroman, former CFO of Vinco Ventures, has been appointed CFO of Cryptyde, a wholly owned subsidiary of Vinco Ventures. Lisa King was voted in as the new CEO of Vinco Ventures.

"I personally feel the Vinco Ventures shareholders could not be in better hands than with Lisa King at the helm of Vinco Ventures. We're happy to have mapped out over the last several months seamless transitions that align executive talent with roles designed to drive each individual business forward and expand revenue streams through all the ZASH companies," said Ferguson. 

Vinco Ventures is a vertically-integrated, end-to-end, consumer product research and development, manufacturing, sales and fulfillment company.

BBIG Price Action: VInco Ventures has traded as high as $12.49 and as low as $1.11 over a 52-week period.

The stock was down 12.30% at $6.82 at time of publication.