It's possible to come back. May not be common, but it's happened before. One of my employers was trading under a dollar (around $0.70 or so) for a while a few years ago, but they're currently just above $3.00, and between then and now they had been up just over $7.00 about a year ago.
Many expect a downturn in the chip industry this year, supposedly we're entering the an expected low point of a 30 year cycle or something. I thought the last 5 years or so was the lowpoint, but guess it's not over yet and moving back up again is nowhere in sight. Could be a bad omen for Transmeta in that current state. They might turn out lucky. Hard to say really until it's either over or they find a way to prosper again, but with Intel spending much more effort on low-poer than they did 5 years ago, Transmeta may have to largely reinvent themselves to really make a difference.
