Q4 Inc listed at 12/share and raised $100 million when it IPO'd in 2021.
The lowest it went was 1.88/share.
Their latest play is....getting acquired for 6/share by a PE firm.
Only way to have made money on a bunch of these stocks and poorly-performing companies was to short right after IPO and to go long when they're 1/5th their IPO price until they're acquired.