[DesertCat]

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I haven't researched anything else regarding this stock, but that's one ugly chart...

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This is a great example why charts don't tell you a whole lot.

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In September 2005, 10 million shares of Powerwave stock were issued to the shareholders’ of record on September 13, 2005 of REMEC stock. The cash distribution is expected to occur in several distributions; with the first cash distribution being paid on October 4, 2005 at a rate of $1.35 per share. Subsequent cash distributions are pending REMEC’s Board of Directors review of the Company’s remaining obligations.

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effective May 20, 2005, each share of its existing common stock converted into a fractional share of common stock, which entitled the shareholder to voting rights and participation in earnings of the Company, and one share of redemption stock, which was automatically redeemed by the Company. As a result of the reclassification and redemption, each holder of one share of REMEC’s existing common stock at the close of trading on the Nasdaq National Market on May 20, 2005 was entitled to receive 0.446 of a new share of common stock (plus $2.80 per share in cash for the redemption share)

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The company has dividended hundreds of millions of dollars worth of Powerwave stock and cash to shareholders this year, causing it's retained value to decline tremendously. But if you had bought at the right times, those dividends meant you would have done well.