Tech stock soars 25,000%. No one knows why
A 25,000% return is unheard of, but that's how much Cynk Technology has soared since the middle of June.
Many are starting to question what is going on with this stock.
Cynk trades "over the counter," meaning you can't buy or sell it on any official exchange. On June 16, the price of a share was a mere six cents. It's now trading above $15 per share and is sporting a market value of around $5 billion. That's more than Domino's Pizza.
But here's the catch: it's hard to determine if the company is worth anything at all.
In its latest financial report with the Security and Exchange Commission (SEC) from November, Cynk Technology lists no revenue or assets. It also reported a $1.5 million loss for