The stock market is being manipulated in general because of...

The stock market is being manipulated in general because of participating by humans.
It would be similar as political, controlled party is doing something in some favor.

Lots of stocks have roller coaster rides, as @pchu pointed out those big tech stocks being hit hard during dot bubble, but those survived do provide massive return, including our client Amazon. At this point, it's too early to make judgement whether 1PG will be next LinkedIn or not. But is also too harsh to say 1PG will go broke as 1PG currently has world class team including ex-Yahoo CTO, good client base and huge cash. The fate probably will be determined in about a year's time to see progress of signing new clients and generating cash revenue.

I'm never too optimistic, but at current price, it's offering compelling reward/risk ratio, imo.