Well that escalated quickly... CYNK Technologies - which we first exposed to the world here [2]- has gone from dumb to dumber [3]. "Traders" just bid CYNK at $18.50 $20.32 this morning (on less than 100,000 shares) meaning this asset-less, revenue-less [3] shell of exuberance now has a market cap over $5.4 $5.9 billion.
[4]
This means our "price target", purely on fundamentals of course, was hit in less than a few hours:
CYNK finding a second wind. Let's do this: $5 billion market cap target
— zerohedge (@zerohedge) July 9, 2014 [5]
That leaves CYNK more "valuable" than all of the following companies...
[6]
Incidentally, owning 210 million shares, the CEO, and only employee, of CYNK, is now among the top 400 richest people on earth.
As a reminder, this idiocy is a glimpse of what the Fed's central planning has done to the S&P 500.
