I held onto a shipping company with real sales. (From 15m to 125m in two years) $ops all the way from 3.80/share to .45 and bought all the way down. Took a monster loss.
It bottomed out at about .15 before recovering to .25 when the dilution ended. (So we all thought)
Then, in the last few days they did a 10/1 RS and it started climbing again.
Now, they started it again and is down to 1.50/share so far and I see it hitting.50 area very shortly.
Sometimes capital preservation is the wisest move and not going down with the ship.