Saturday, July 12, 2014

USA stock market these days = Dot com bubble bust begging to happen


If you can make sense of what's happening with Cynk Technology Corp then you must be a genius.
This is the reason why I never touch any non-Canadian stock. We too have very questionable stocks over here, but nothing like down south.

From CBSNews:
Mystery company  has no money but is valued at $4.5B.

Ordinarily, a money-losing company like Cynk Technology Corp. (OTC:CYNK) would languish on the over-the-counter stock market and attract little attention from either investors or the media.

Cynk, though, has managed to attract plenty of attention, along with a market capitalization of $4.5 billion. That's an astonishing feat for a company with no products, no revenue, no website and exactly one employee.

To put this in perspective, the New York Times Co. (NYT), whose roots date back to 1851, sports a market value of $2.1 billion, while restaurant chain Zoe's Kitchen (ZOES), which has 111 locations in 15 states, is valued by the market at $572 million after its recent IPO. No one has a clue how a company that few people had heard of became a stock market juggernaut....

Zero Hedge has more on this company and the madness that is going on these days in the stock markets and outside the stock markets.  As usual I blame the earthquakes and the poisonous gases emitting from them for the rise in madness all over the world that's affecting at least half the population of planet Earth.

here,  here and here.

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