Why is there heavy volume in a penny stock about to become worthless?

Now why on Earth would that happen? I'm puzzled. The stock is as good as worthless, its price should be $0.0, trading volume exactly zero. Or is there some hidden tax benefit in trading worthless penny stock? Or some other angle? Could someone provide some illumination?

People can be easily confused. They think that when the company emerges from bankruptcy then they might become a profitable company, and at only a few pennies a share there is money to be made. They are of course wrong, because those shares won't survive the bankruptcy process.

The sellers are more then happy to take some money, any money. They either lost a lot already, or they bought it recently and realized their mistake.

Despite the plan:

It's about to emerge from bankruptcy later this month (end of November).

There is some risk that plan could fall apart, and either never happen or it take longer. If they can sell now, they don't have to worry about waiting until it is 100% officially worthless before declaring the loss. They don't have a risk of it dragging into next year.

The other option is that this is a pump and dump situation, and somebody is making money on the suckers....