The Very Good Food Company Inc. [VGFC] fell -67.96% so far this year. What now?

The Very Good Food Company Inc. [NASDAQ: VGFC] traded at a low on 06/30/22, posting a -9.78 loss after which it closed the day’ session at $0.24. The company report on June 30, 2022 that VERY GOOD FOOD FILES RESALE REGISTRATION STATEMENT ON FORM F-1 AND RESTATED FIRST QUARTER FINANCIAL STATEMENT FILINGS.

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The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (“VERY GOOD” or the “Company”), today filed a resale registration statement on Form F-1 (the “Resale Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to which the selling securityholder named in the Resale Registration Statement may, from time to time, offer and sell the securities covered by the Resale Registration Statement. The Resale Registration Statement has not become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

In addition, the Company today also filed its restated condensed consolidated interim financial statements and restated management’s discussion and analysis for the three-month period ended March 31, 2022.  Due to the level of employee turnover and vacancies within the Company’s accounting department, coupled with a shortened prescribed time for the Company to report its quarterly results and for management to prepare the first quarter financial statements, the Company’s external auditors were unable to complete a review of the condensed consolidated interim financial statements for the three-month period ended March 31, 2022 before the filing deadline of May 16, 2022. As a result, the Company filed its first quarter financial statements with a note indicating that such financial statements had not yet been reviewed by the Company’s external auditor. In connection with the filing of the Resale Registration Statement, as at June 29, 2022, the Company’s external auditor completed its review of the condensed consolidated interim financial statements for the three-month period ended March 31, 2022 resulting in the Company amending and restating the previously filed condensed consolidated interim financial statements and management’s discussion and analysis for the period ended March 31, 2022.

The results of the trading session contributed to over 3311008 shares changing hands. Over the past one week, the price volatility of The Very Good Food Company Inc. stands at 12.49% while the volatility over the past one month is 18.91%.

The market cap for VGFC stock reached $27.97 million, with 118.47 million shares outstanding and 91.82 million shares in the current float. Compared to the average trading volume of 4.80M shares, VGFC reached a trading volume of 3311008 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about The Very Good Food Company Inc. [VGFC]?

The Average True Range (ATR) for The Very Good Food Company Inc. is set at 0.05, with the Price to Sales ratio for VGFC stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 0.88.

How has VGFC stock performed recently?

The Very Good Food Company Inc. [VGFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.19. With this latest performance, VGFC shares dropped by -7.08% in over the last four-week period, additionally sinking by -69.57% over the last 6 months – not to mention a drop of -92.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VGFC stock in for the last two-week period is set at 43.92, with the RSI for the last a single of trading hit 39.13, and the three-weeks RSI is set at 44.88 for The Very Good Food Company Inc. [VGFC]. The present Moving Average for the last 50 days of trading for this stock 0.2543, while it was recorded at 0.2713 for the last single week of trading, and 0.8499 for the last 200 days.

The Very Good Food Company Inc. [VGFC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The Very Good Food Company Inc. [VGFC] shares currently have an operating margin of -452.44 and a Gross Margin at -84.55. The Very Good Food Company Inc.’s Net Margin is presently recorded at -445.07.

Return on Equity for this stock declined to -160.90, with Return on Assets sitting at -96.12.

Insider trade positions for The Very Good Food Company Inc. [VGFC]

There are presently around $0 million, or 1.89% of VGFC stock, in the hands of institutional investors. The top three institutional holders of VGFC stocks are: TORONTO DOMINION BANK with ownership of 103,304, which is approximately 0% of the company’s market cap and around 27.41% of the total institutional ownership; HARBOR ADVISORS LLC, holding 97,500 shares of the stock with an approximate value of $23000.0 in VGFC stocks shares; and SCOTIA CAPITAL INC., currently with $14000.0 in VGFC stock with ownership of nearly -2.838% of the company’s market capitalization.

7 institutional holders increased their position in The Very Good Food Company Inc. [NASDAQ:VGFC] by around 58,149 shares. Additionally, 13 investors decreased positions by around 1,233,330 shares, while 13 investors held positions by with 765,080 shares. The mentioned changes placed institutional holdings at 526,399 shares, according to the latest SEC report filing. VGFC stock had 3 new institutional investments in for a total of 39,942 shares, while 9 institutional investors sold positions of 1,159,866 shares during the same period.


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