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.

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