I've been following otcbb and Pink stocks since late 1997 or early 1998. Back then, of course, "penny" stocks actually traded for pennies, not for fractions thereof.
The fad for sub-sub-pennies started a couple of years ago, and it came into being as a result of the fad for big diluters. There've been dozens and dozens of 'em. Only today one of the worst, Gateway Distributors, did a punishing r/s. That was its third or fourth r/s. A few companies have done even more.
NONE of these stocks ever popped until QBID did. That a few have done subsequently can be attributed to a self-fulfilling prophecy bought into (successfully) by promoters and momo players. Now it seems that many believe all you have to do is locate a stock you can buy for 0.0001 and sooner or later you'll be guaranteed a ten bagger at least.
Not good.