You've got to have a trading plan and a trading plan includes an exit strategy in case you are wrong about a stock. If you don't have a plan, you would end up like helm sitting on tons of losses. Helm may end up riding this down to $1.
I think that Chimp wants to take Renn private for next to nothing. This is why he's not only allowing this steep drop, but is encouraging it. Let's say Chimp facilitates the stock dropping to $1 and he's secretly short with his hedge fund butt pal. Chimp is making money all the way down. He's all cashed up to take Renn private at $1 or whatever.
Most of these China stocks are scams, but even if Renn isn't a scam, this is the scummiest operation I've ever seen. Where is this guy?