Lol. They had a $16 offer at one time and turned it down because outside forces said it was too low.
Hey genius, why do you think the price went from $24 to $2? That's already discounted. If you buying at these levels you'll do well. The bad news has been priced in. Yes if you're long at $24 thats sure looks bad. If you're long here you look good.
Because Goldman took them public and all of their clients own this garbage and need bailing out.
Not rocket science here.