For those who have confidence in the good stock market reports

[defacto7]

lately, you may like to put it in perspective. Again, the stock market is NO indicator of a sound growing economy in itself.

Phantom tech firm worth billions, inexplicably

It has no assets, no revenues and no business plan to speak of. But a company called Cynk Technology has seen its value soar as high as $4.7 billion.

Wall Street analysts have been at loss to explain the spectacular 24,000 percent rise in Cynk, which trades on the lightly regulated over the counter (OTC) market.

"We must sadly conclude that the company is nothing but a fraud," said the financial news website Zero Hedge.

"And it is nothing short of a testament to just how broken this excuse for a market is that a company with no assets, no revenues, no website and one employee can go from zero value to nearly $5 billion in market cap in a few days."

http://phys.org/news/2014-07-phantom-tech-firm-worth-billions.html

[Xipe Totec]

1. It's the invisible hand up the market. nt

[ClarkeVII]

2. This stock is traded OTC...

....which means "Over the Counter" and does not trade on any of the major exchanges. I get the skepticism of the markets but this one stock was been up by manipulating short sellers and is not a reflection of the stock market as a whole.

[Dawgs]

3. Agree. A singular example, especially like this one, doesn't really tell us much about the market.

Would love to see other examples.. if they exist.