CYNK Technology +24,000%

Since June 17, CYNK Technology ($CYNK) is up nearly 25,000% — and it’s not clear if they exist.

The company’s stock, which the folks at ZeroHedge first alerted us to, has gone from $0.10 on June 17 to $14.71 as of Wednesday’s close. At its current stock price, the company’s market cap is $4.29 billion.

This is a gain of more than 24,000%. For some perspective, Apple, one of the most successful companies and stocks of the last generation, is up about 18,000% since it went public in 1980.

But there is, as you could imagine, a slight problem with CYNK: It’s not clear if there’s any value to it.

The website associated with the company is introbiz.com. On introbiz.com, under the “About IntroBiz” section, it states that, “Thru our marketplace you may both buy and sell the ability to socially connect to individuals such as celebrities, business owners, and talented IT professionals.”

This premise, as we understand it, is basically a Facebook-like social network where you would pay IntroBiz (or CYNK, or whoever), to connect you with someone else.

CYNK has been as high as $16.69 per share today.

Posted by on July 10th, 2014 at 11:04 am


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