Vinco Ventures office

Vinco Ventures office

Vinco Ventures Inc., Bethlehem's 'meme stock,' changed its name Wednesday to ZASH Global Media Entertainment Corp. and shuffled its management.

Investors were not impressed by the new title or personnel moves, and the company's shares fell. Vinco/ZASH shares closed at $6.38 Wednesday, down about 18%. The decline continued Thursday, with the shares, trading under the ticker BBIG, down down to $6.15 at 10:10 a.m.

Vinco/ZASH's headquarters is an office on West Broad Street in Bethlehem. The company's shares have been volatile, trading as low as $1.11 to as high as $12.49 in the last 52 weeks, as stocktwits.com commenters with screen names such as wolfy87 and EliranC have touted the stock or attacked it.

The motives of Internet posters with pseudonyms can be hard to decipher, with some "pumping" a stock in a bid to sell and make a quick profit.

Thursday, "MixPix'' said on stocktwits.com that the company is "a mint that will print money as long as there is no sneaky business" while Shelby502 noted, "looks like I was right...slow bleed."

Other companies, including theater chain AMC Entertainment Holdings Inc. and GameStop Corp., have ridden the so-called "meme" stock wave as small investors talked the companies up on the Internet, seeking to make money and attack Wall Street short sellers, who bet on stocks to fall.

ZASH describes itself as an "evolving network of synergetic companies" in the statement about the name change. It named a new chief executive, Lisa King, and made other personnel moves.

The company's second-quarter revenue was $2.69 million. The company owns Lomotif, which it describes as one of the top 10 competitors to TikTok.

 
 
 
 
 
 
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