Nulla Spe means no hope in Latin.
I like to invest in stocks lacking expectations. If enough investors dislike and sold the stock, it would have little room to decline further. My downside risk is limited.
The upside is potentially significant. It doesn't take much to move a hopeless stock. A government contract, one significant customer, or a slightly less negative guidance would suffice. Its underlying business just has to become functional from being outright dreadful.
Heads I win, tails I don't lose much.
I like those odds.