GEGP - A few years back GRGP quoted at over $100,000. I had $9 Trillion dollars in my one trading account. I think I had 80,000,000 shares in that one account, at the time. Within a couple weeks the stock went on a crazy run. Imagine being short a couple billion shares at $0.0001 when the quoted price is $100,000.
Somebody wrote off their shares with their broker so they could record the loss this tax year. Since the stock is still trading, you can’t claim zero value and write it off, so your broker can buy your shares for 1 cent and you take the loss.
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