Vinco Ventures Stock Plummets After CEO And CFO Resign

A popular retail investor stock is falling after-hours Tuesday.

What Happened: Vinco Ventures Inc BBIG announced its CEO and Chairman Christopher Ferguson has resigned from the company, effective Oct. 25, 2021. 

Editor's note: The company announced Wednesday morning that Ferguson has agreed to a three-year deal to serve as a senior strategic advisor with Vinco Ventures' parent company ZASH Global Media.

Brett Vroman, the company’s chief financial officer, has also resigned, effective Nov. 4, 2021. 

The company announced Lisa King will serve as its new CEO and president beginning Oct. 25. She comes to the company with over 25 years of experience in marketing and branding.

The company also announced Stephen Garrow as its chief operating officer, effective Oct. 25 and Philip Jones was named new CFO beginning Nov. 4.

Related Link: 5 Short Squeeze Candidates To Watch: Progenity, Vinco Ventures And More

Four additional directors for the company, Louis Foreman, Frank Jennings, Mary Ann Halford and Kevin J. O’Donnell announced their resignation from the company, effective Oct. 19, 2021.

Why It’s Important: Sept. 15 marked the proxy record date for shareholders needing to own BBIG shares in order to receive shares of spinoff Cryptyde.

Cryptyde is expected to go public later on with ticker TYDE in the form of a dividend. Vroman will become CFO of Cryptyde.

BBIG Price Action: Vinco Ventures stock is down 20% to $6.22 in after-hours trading. Shares have traded between $1.11 and $12.49 over the last 52 weeks.