It's almost certainly a pump and dump operation or a target of opportunity by a pump and dump operation. Assuming it doesn't get delisted by the SEC first, it will continue for a few days and then suddenly lose 98%+ percent of that valuation in a matter of hours.<p>Edit: Yep, see their financial statement. <a href="https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=122455" rel="nofollow">https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf...</a> It's even worse than you would otherwise think.
Their site: <a href="http://site.introbiz.com" rel="nofollow">http://site.introbiz.com</a><p>Apparently they're selling the contact information of celebrities, investors, developers, politicians, etc.<p>"At Black Book we provide contact information to world class artists. Upon purchase you will receive a file with the required information to be able to contact the artist."<p>"The information usually includes email and phone numbers to the artist's talent agent, publicist, legal representative, etc."<p><a href="http://www.businessinsider.com/cynk-technology-2014-7" rel="nofollow">http://www.businessinsider.com/cynk-technology-2014-7</a><p><a href="http://www.zerohedge.com/news/2014-07-09/full-list-companies-audited-cynks-public-auditor" rel="nofollow">http://www.zerohedge.com/news/2014-07-09/full-list-companies...</a><p>Formerly "Introbuzz", also associated with "Sanchez Medical Services"<p><a href="http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=8174360" rel="nofollow">http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=8174...</a><p><a href="http://www.sec.gov/Archives/edgar/data/1540160/000116552713000428/0001165527-13-000428.txt" rel="nofollow">http://www.sec.gov/Archives/edgar/data/1540160/0001165527130...</a><p><a href="http://www.zerohedge.com/news/2014-07-09/sheer-insanity-no-revenue-company-rises-over-1-billion-today-57k-shares-traded" rel="nofollow">http://www.zerohedge.com/news/2014-07-09/sheer-insanity-no-r...</a><p>Marlon Luis Sanchez and Kenneth Carter seem to be the two primary executives of the company.
My amusing thought experiment is that two startups could easily give themselves billion dollar revenue as follows:<p>1. Startup A sells 2 twin puppies to startup B at $500M each.<p>2. Startup B sells 4 hand-drawn logos to startup A for $250M each.<p>Each books $1B in revenue and each also books $1B in expenses so as to avoid tax.
It's pretty common in penny stocks. It's usually a scam to say "this stock has jumped 4000% in the last 12 hours!". Very commonly, the owner of the company puts a bunch of money in to inflate the stock, waits for others to continue inflating the stock, then sells it all for a quick profit.
I'm no investor and don't plan to invest for the foreseeable future, but out of curiosity:<p>Wouldn't it theoretically make sense to go short on something so obviously bloated?
<a href="http://www.4-traders.com/business-leaders/Marlon-Sanchez-0D46SL-E/biography/" rel="nofollow">http://www.4-traders.com/business-leaders/Marlon-Sanchez-0D4...</a><p>One guy owns 72% of the company.
Is their site's theme a common, commercially available theme? It looks an awful lot like Envato's marketplace...<p>Their site:
<a href="http://site.introbiz.com/" rel="nofollow">http://site.introbiz.com/</a><p>Envato's:
<a href="http://www.themeforest.com" rel="nofollow">http://www.themeforest.com</a><p>Edit:<p>Looks like a ripoff:<p><a href="http://themeforest.net/forums/thread/envato-clone-with-a-market-cap-of-42b-/136198" rel="nofollow">http://themeforest.net/forums/thread/envato-clone-with-a-mar...</a>
I am reminded of the efficient market hypothesis.<p><a href="http://en.wikipedia.org/wiki/Efficient-market_hypothesis" rel="nofollow">http://en.wikipedia.org/wiki/Efficient-market_hypothesis</a>
Is CYNK the new BitCoin? Inquiring minds want to know.<p>(I'm joking. It obviously <i>is</i> the new BitCoin, so maybe they'll crash and burn together.)