BBIG Stock Alert: Will Vinco Ventures Meet a KEY Deadline Today?

  • Today is the deadline for Vinco Ventures (BBIG) to submit an updated plan of compliance.
  • Nasdaq previously sent Vinco a notice for failing to submit Q2 and Q3 earnings.
  • Shares of BBIG stock are down by about 60% year-to-date.
BBIG stock - BBIG Stock Alert: Will Vinco Ventures Meet a KEY Deadline Today?


Shares of Vinco Ventures (NASDAQ:BBIG) stock are in full focus, as the company announced in Nov. that it would file an update to its plan of compliance to Nasdaq no later than today, Dec. 19. Vinco noted that the updated compliance plan would confirm that it would be able to submit its Q2 and Q3 earnings reports by Jan. 30. On Nov. 17, Nasdaq sent the company a noncompliance notice for a failure to report Q3 earnings. The deadline to submit the report fell on Nov. 14.

For Q1, Vinco reported revenue of $11.5 million, up 349.7% year-over-year (YOY). The significant revenue growth was largely impacted by the acquisition of AdRizer. Furthermore, the company’s net loss tallied in at $372.9 million, equivalent to an earnings per share (EPS) loss of $3.05. Vinco stated that $330.6 million of the net loss, or 87%, was attributed to “warrant accounting requirements.” Finally, the company ended the quarter with cash, cash equivalents, and restricted cash of $210.8 million.

On top of that, Vinco is dealing with another notice from Nasdaq. Let’s get into the details.

BBIG Stock: Vinco’s Updated Compliance Plan Deadline is Today

On Dec. 1, Nasdaq notified Vinco that was in violation of its minimum bid price requirement of $1. Nasdaq came to this conclusion based on the closing bid price for the last 30 trading days. Now, Vinco will have 180 calendar days to regain compliance, or until May 30 of 2023. BBIG stock will no longer be violation of the exchange’s requirements if it regains the $1 closing bid price threshold for 10 consecutive days before the deadline.

BBIG’s inclusion in the Russell 2000 index may also be at risk. As with Nasdaq, Russell also requires a minimum bid price of $1 for inclusion. During the rank day in May, all participants must have a minimum closing price of $1. If that requirement isn’t met, the company could also have an average daily closing price of at least $1 for the 30 days prior to the rank day in order to be eligible.

Meanwhile, Vinco announced last week that it had parted ways with court-appointed CEO Ross Miller and President Gabe Hunterton. Vinco added that it is “set to appoint a new permanent CEO,” which may mean that a candidate has already been selected. Chairman Rod Vanderbilt will take over as Executive Chairman while shareholders await a new CEO.

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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

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