That does not mean anything. These stocks can go all the way to zero and nothing can stop that unless the dark clouds disappear. Only god knows when that will happen and by then most of these companies are gone. That is what Saudi wants.
When these stocks drop, nothing stops them. The more they go down, the faster they drop. I have seen that with my energy stocks. Just shocking of how low they get. ( almost zero)
You have to have the nerve of steel to hold on to this stock. This stock has been down 98% of the time . Almost everyday and makes any patient investor really tired of waiting.
Don't put a penny in this stock until you see a meaningful reversal , otherwise you will lose more. This garbage is done and is not even worth looking at it.
Open your eyes and see this company is on the edge of being at all time low ( back to 1988) . This stock has been squashed beyond repair.
It is shocking how fast this garbage is dropping. It is almost as there is nothing left in this company. Maybe headed for bankruptcy.
As we are getting close to all time low the faster this garbage drops. Maybe it will stop at zero and we will not go into negative. Management have done a fantastic job running this company into the ground.