How can some penny stocks start in the 10's of thousands of dollars per share and fall so dramatically?

Not looking to invest in penny stocks, I'm just wondering what conditions cause such a dramatic drop in price. An example is $TOPS which was worth ~$49,000/share in 2013 and is now trading at $0.3375/share.

Submitted July 28, 2017 at 04:53PM by chicks_for_dinner http://ift.tt/2h9IJ9q