Very Good Food Company Inc (NASDAQ:VGFC) Stock Attempts To Rebound After The Fall

It is likely that The Very Good Food Company Inc (NASDAQ:VGFC) is going to come into the focus of investors this week after it had performed strongly last week. The stock had been in sharp focus among investors last week and ended up with gains of as much as 9% for the period.

Market Stats

On Friday, VGFC stock fell 1.30% to $0.9279 with more than 330K shares, compared to its average volume of 1.02 million shares. The stock has moved within a range of $0.9100 – 0.9700 after opening trading at $0.98.

The Very Good Food Company Announces CFO Transition

While the gains last week may have been notable, it should be noted that over the course of the past month, the stock is down by as much as 38%. The food technology firm which is involved in the manufacturing of plant based items announced on December 9, 2021 that KaminiHitkari had departed from the company and stepped down from her position as the Chief Financial Officer as well as Corporate Secretary.

It was announced by the company that Hitkari was quitting the company in order to look into other opportunities. However, it seems that the news of her departure has led to significant positivity among investors. That being said, it now remains to be seen if the stock can continue to add to its gains this week and managed to wipe off the losses that it has recorded over the past month.

Key Quote

“I would like to thank Kamini for her contributions to the Company as we navigated our inaugural year as a publicly traded company. We wish Kamini the best in her future endeavors,” said Mitchell Scott, co-founder and CEO of the Company.

Traders Corner

VGFC stock is trading below the 20-Day and 50-Day Moving averages of $1.11 and $1.59 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.83.