[dolanbaker]

http://www.bbc.com/news/business-28270266

The US Securities and Exchanges Commission (SEC) has suspended trading in Cynk Technology after shares in the little-known social networking firm surged more than 23,000% in the past month.

Documents showed the firm - which is registered in Nevada with an office in Belize City, Belize - had no revenue and one employee.

....


Shares in Cynk jumped from six cents in early June to $13.90 (£8.11) on Thursday, despite uncertainty about its business and revenue structure. That values places the firm at a valuation of close to $4bn - just slightly above the valuation of airline JetBlue.

Looks like someone’s "pump-n-dump" scheme went critical!

[Subjectivist]

It all depends, if he one employee is legit then they have server farms full o software and a working network. If so kudo's for managing to buil a $4,000,000,000.00 company single handed.

On the other hand people being less than perfectly honest I will be intersted to see what happens next.

[dolanbaker]

" had no revenue and one employee."
Someone else is most likely driving up the share price, these "pump-n-dump" schemes usually only cause a small jump in value, but maybe it's a sign of the times and desperation to grow money that the big boys appear to have been sucked in.

[Subjectivist]

Do you remember the dot.com bubble? The big trade groups and companies were buying every stock that had an internet presence no matter how minor their real world presence was. It did not end well. I don't think the lone employee of Cynk managed to do this by themselves, if they did they are bright enough to become extremely wealthy oing legitimate work.

[dolanbaker]

Yes, I remember it all too well, looks like It's back again!
As I said, I think that someone else (not the MD of the company) has pumped it and somehow it went into orbit. What IS surprising is that the stock hasn't been "dumped" and the price collapse which is the usual trend.

[StarvingLion]

"It did not end well."

Capital did very well on the way up and on the way down.

"they are bright enough to become extremely wealthy doing legitimate work."

Capital won't be hiring you anytime soon.

[dolanbaker]

Something like this may have happened.
http://youtu.be/GgGossqGRd4

[StarvingLion]

The system of Capital is deliberately made opaque to the souls who do NOT have privilege. Do the farm animals know whats going on before they head to slaughter?

Go to your local commercial bank and request a loan to start a business to surge a stock by 23,000%. Tell the loan officer it is legitimate work. Why was your loan application denied?