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Cynk Is a Joke, Not Proof of a Bubble

The financial world is obsessed this morning with Cynk Technology, a “company” that traded for a few pennies for most of its existence before suddenly exploding more than 25,000 percent, giving it a market value of more than $5 billion. Cynk supposedly operates a social network—but one that would appear to have no members, no revenue, no assets, etc., and its public filings reveal a hilariously inept business plan and dubious personnel.

When the markets are dead, dead, dead, this kind of price chart has the ability to light up the bored summer Wall Street Twitter community: