> 4.) They lost $300m Q4 '19 due to 'stock based compensation' (which from my perspective should have been accrued Q4 '15 onwards) I haven't looked at this, bu

> 4.) They lost $300m Q4 '19 due to 'stock based compensation' (which from my perspective should have been accrued Q4 '15 onwards) I haven't looked at this, but if this is a large part of their loss, then you can possible find the answer to why it was declared in one chunk by looking at the timing of option grants. The schedule should be available. Normally when I see "Our company is losing money" and the money it is losing is a one time loss that would normally be spread out over a long period of time, it's because they timed the announcement to coincide with the granting of options. It causes the price to drop precipitously, they grant the options -- "No funny business here! We scheduled the option grant 6 months ago!". Then the price rebounds. It has happened in every large company I've ever worked for. I always wonder how they get away with it...