VCON Bought out for $0 per Share

You can file this one away under "cautionary tales for microcap investors."  I first wrote about Vicon Industries  (VCON) almost 7 years ago when the company changed symbols from VII to VCON.  The stock was at a split adjusted $325.  

The last trade was almost 4 years ago at $65 per share.

A couple weeks ago I received a buyout letter which made me for real laugh out loud with this line, "the estimate of value of Company as of September 12, 2024, was $0.00 per share"!!

In the Market Trenches Podcast

I recorded a fun podcast yesterday with Gary Ribe and Eric Furey, In the Market Trenches.  I had a great time talking about my approach, how I do things, and why I do things.  We did a little deep dive into two strange, yet somehow normal in the dark space, stock stories: EKCS and VCON.  

Audio version here.  Video version here.  

NoName Annual Performance 2019-2020

Another incredible year!  I'm up 94.9%, giving me a CAGR of 52.5% since I started investing 7 years ago.  

    

****update Feb 21, 2021****

I made a calculation mistake when first writing this post.  My real return is 94.9%, not 85.3% which means my CAGR is really 52.5%, not 51.4%.  See comment at end of post for explanation.

You can read more on my performance in past annual posts here.

VII Becomes VCON

On June 19, Vicon Industries closed at $0.36 and it had been pretty flat around $0.40 for over a year.  The next day the company put out a press release announcing failure to comply with NYSE listing requirements and on July 12 the company changed symbols from VII to VCON as they moved from the NYSE to the OTCQB stock exchange.  

With no other news the stock has dropped all the way to $0.16, a loss of 56%.  I want you to ask yourself if a stock exchange name is worth half the company.