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What does bottom out mean?

Looking for the meaning or definition of the word bottom out? Here's what it means.

Verb
  1. (intransitive) To reach the bottom, to reach the nadir or low point.
  2. (idiomatic) To touch or drag along the ground.
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Examples
We continue to expect economic activity to bottom out, then to turn up later this year.
Last week's profit warning knocked the bottom out of the share price.
I got one of these for my grandmother last year, because she is blind and forgetful and had burned the bottom out of two teakettles.
The question is, Are we seeing a modest, multiyear decline that will bottom out?
Temperatures could bottom out around negative 20 degrees in the eastern part of the state overnight.
The flight crew had discussed the sound and concluded that they were hearing an oleo bottom out.

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