The Worst Stock of the Decade

Congratulations to Velocity Express (VEXP), the single-worst performing stock of the decade…that’s still trading.
Since the beginning of decade, VEXP has had three reverse stock splits; a 1-for-50, a 1-for-15 and a 1-for-5. That adds up to 1-for-3,750.
VEXP closed last century at $8 a share but adjusting for splits that comes to $30,000. Today, it’s at 21 cents. Ouch! That’s a loss of 99.9993%. Heck, it’s more than Ivory Soap.
Those -99.99…% figures can be a little deceiving so let me add some perspective. Velocity’s loss is the equivalent of dropping in half 17 times. It’s like a 10% loss every month for the decade. If would have turned $1 million into $7.
But it’s still trading

Posted by Eddy Elfenbein on April 22nd, 2009 at 12:08 pm

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