It could also be due to the market makers not wanting the stock and they are gona keep marking it down.
You also missed out market maker manipulation and that said a market maker can attempt to manipulate a share either way ie down even when everyone is selling and up when everyone is buying.
Market makers can short sell!
But in any event any holder have gained nothing in the last 6 months despite world markets up.
Nor has the co paid a dividend.
Merry chrismas....
Looks like toad holders will miss out on that one!