For some reason, they think it's much better to average down and lose a total amount of $200,000.00 if they can say their average price was $0.10/share, rather than lose a total amount of $10,000.00 on shares that were purchased for $6.00.

They believe that a lower average share price more than compensates for the extra 20X money lost.

I never understood this bit of bagholding logic.