Phantom tech firm Cynk Technology inexplicably worth $4.7 billion

[unhappycamper]

http://www.rawstory.com/rs/2014/07/11/phantom-tech-firm-cynk-technology-inexplicably-worth-4-7-billion/



Phantom tech firm Cynk Technology inexplicably worth $4.7 billion
By Agence France-Presse
Friday, July 11, 2014 5:36 EDT

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.

While its share price and market value fell at the close of trade, the company unknown in the technology or financial communities for a time traded in the range of the value of firms such as Groupon, Pandora Media or Yelp.

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

[Demeter]

1. Could be money-laundering scheme

now that the banks and bitcoin are under attack for doing the wash...after all, the CIA needs some way to wash off the blood.

[htuttle]

2. Trading in CYNK just got suspended by the SEC

Last edited Fri Jul 11, 2014, 01:37 PM - Edit history (1)

http://online.wsj.com/articles/sec-suspends-trading-in-cynk-technology-1405088036

The U.S. Securities and Exchange Commission said Friday it had suspended trading in Cynk Technology Corp., the former penny stock whose market capitalization shot up to more than $6 billion Thursday.

The SEC said it temporarily suspended trading in the social network's securities "because of concerns regarding the accuracy and adequacy of...

I just watched The Wolf of Wall Street this month on Netflix, and I swear this is right out of the plot line of that movie...