CYNK Technology (CYNK), a “social media company,” has exploded nearly 25,000% since June 17th.
The Anatomy of a 25,000% Move:
Stocks don’t move 25,000%. Ever. Apple (APPL), a world renowned innovator that IPO’d in 1980, has gained nearly 18,000%. That is 34+ years of reinvention, growth, and industry-leading products. CYNK Technology, on the other hand, has gained 25,000% since June 17th of this year, a nice return on capital for 22 days. So how does a stock even produce a 25,000% return? Let’s take a look. Before June 17th, the stock only traded 3 times all year: 2,000 shares on March 18th at 8 cents, 200 shares on April 9th at 8 cents, and 1,900 shares on May 15th for 6 cents. Then silence until 367,400 shares mysteriously traded on June 17th, sending shares from 6 cents to $2.25 per share, a one-day gain of 3,650%!! The stock has continued climbing all the way to $14.71 today on very light volume compared to the 292 million outstanding shares CYNK Technology has, according to SEC filings
CYNK Technology now has a valuation of more than $4 billion, eclipsing the value of companies like JetBlue, Wendy’s, and US Steel. Unfortunately, the company, which calls itself a social media company, has a total of $39 in assets, ZERO revenue, no website, and 1 employee.
CYNK Technology is clearly a scam. A standard smartphone in your pocket is worth more than the entire company, yet the market is pricing this company at more than $4,000,000,000,0000.00. Yes, that’s a lot of zero’s. Delete the 4 from the front of that number and you will arrive at the true value of CYNK Technology.
The only drama remaining is: how high will the stock rise before it ultimately tumbles? How long will the SEC actually allow this scam to trade? How many people will be sent to prison? And how many innocent investors will lose significant money on this blatantly obvious scam.