Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion [View all]

[DeSwiss]

Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion (+110%) Today On 57K Shares Traded

Submitted by Tyler Durden on 07/09/2014 22:31 -0400

Update 2: CYNK closed up 150%, at an all time high of $14.70, a market cap well over $4 billion. Clearly there is much untapped upside left for the company with no assets or revenues.

Update: Stock is now $14/share, implying a market cap for the revenue/asset-free compah of over $4 billion. This means it has a market cap higher than Dynegy, Federal Mogul, JetBlue or Buffalo Wild Wings.



Just 2 days ago we highlighted the best example of the exuberance awash the markets currently - CYNK Technology Corp, the social media development company that had a market capitalization in excess of $1 billion, which according to official filings, had one employee, no website, no revenue, no product, and no assets.

Fast forward 2 days - and some 57,000 shares traded (about 0.02% of its total shares outstanding) at around $10 and CYNK now has a market cap approaching $3 billion (and still no revenue, no product, and no assets)... Lord Overstone said it best. “No warning can save people determined to grow suddenly rich.”

MORE

- So is it a PumpNDump if everybody knows it's a PumpNDump -- and they invest in it anyways because they know they can still make a killing if they get out of it in time?

Is it a con if everyone knows it's a con?

When is a con, not a con?

Seems like this used to be clearer......