The first split was 70:1 not 750:1 as someone noted earlier.
In a nutshell...the initial spike was due to delisting from Nasdaq, however $75 mil in warrants caused the massive plunge which resulted in the 2 reverse splits, which consequently led to the recent AS increase to 750 Billion shares (not a misprint). They also recently pulled a stunt with the ex CEO taking a control stake, which led to him giving those shares back to the company in exchange for their Vape segment. VPCO is now proud owners of a single health food mart, at a cost of $3 Mil on the west coast of Florida. You should also note there's still millions in warrants left to convert. That about sums up the story here.