explain this

What a fucking disaster.

>>1648781
/buy peak, sell dip/ here

>>1648781
how the FUCK was this stock worth over $100,000 at one point

>>1648807
At the IPO (initial public offering), the company had 13,000,000 shares outstanding. Since then:

At R/S #1, the company issued an additional 659 million new shares, causing a 5070% massive dilution.
At R/S #2, the company issued an additional 13 million new shares, causing a 48% dilution
At R/S #3, the company issued an additional 7 million new shares causing a 71% dilution

>>1648817
>At R/S #1, the company issued an additional 659 million new shares, causing a 5070% massive dilution.
How the flying fuck was this company worth $66 trillion at one point

Where were you when Greece was BTFO by German banks

>>1648807
Money that was never there.

Check FreeSeas that had an even crazier high and is now worth almost nothing.

>>1649142
did anyone get rich when they sold freeseas at 10s of millions?

Short this to the fucking ground. Going to 0 like FREEF

>>1648799
>>1648807
>>1648822
>>1649131
>>1649142
>>1649155
>>1649172
>>1648781

>what are reverse splits.

It is unlikely this companies stock was ever valued over $50.

>>1648781
>stock is worth $50 at some point
>reverse split 10/1
>stock is now displayed as being worth $500 at that point because it represents 10 of the stock in the past
Repeat. A reverse split is also called a stock merge, if that makes it easier to understand.