You forgot to mention the final episode of such companies. After multiple CRs and non-stop dilution, the company will be delisted, but the management will just IPO or phoenix as a new ASX penny stock. Rinse and repeat. There are so many sales men, disguising as sophisticated CEOs and scientists, who have built their whole life and career around running lifestyle stocks. It's especially evident in (bio)tech and mining, but more recently also in green energy/renewables.
As long as you have greedy sheeple who don't understand the fundamentals but hope that their 1 cent stock turns into Amazon, you will also have these types of salesmen.
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