peter1234 Posted July 1, 2014 Share Posted July 1, 2014 LMAO. How did you find this? from the VIC thread on good short ideas. Being overvalued and being a good short is slightly different. It just might run up another 37x and then being valued at 26b... ;D Just make sure price does not go in the wrong direction. ;D Link to comment Share on other sites More sharing options...
moustachio Posted July 3, 2014 Share Posted July 3, 2014 So the single owner has 70% of the shares. Can he really unload all his shares just based on an excited, unknowing 30% before the whole thing collapses exponentially? Reminds me of a section from reminiscences of a stock operator. Seems like there should be some offshoot of the SEC that protects traders from manipulation like this. I haven't looked over this stock at all and just looked through this thread. If it is going to be a pump and dump it would usually go down something like this: 1. Build up the appearance of the beginnings of operations. 2. Start issuing press releases about all kinds of exciting sounding partnerships and new products, etc. 3. Possibly start booking revenue, never mind that it is from a related party. 4. Hire a network of promoters that hype the stock beyond belief for a cut of the profits. 5. Issue "big news", and possibly create artificial volume by being on both sides of trades. 6. Sell into the buying frenzy. Link to comment Share on other sites More sharing options...
peter1234 Posted July 9, 2014 Share Posted July 9, 2014 Doubled today, capitalization now $3.5b. ??? "I can calculate the movement of the stars, but not the madness of men" Sir Isaac Newton ;) Link to comment Share on other sites More sharing options...
wachtwoord Posted July 9, 2014 Share Posted July 9, 2014 Doubled today, capitalization now $3.5b. ??? "I can calculate the movement of the stars, but not the madness of men" Sir Isaac Newton ;) And that's why shorting is dangerous. There must be money to pick up for people who know what they're doing here (in shorting that is) but I'll pass. Link to comment Share on other sites More sharing options...
mcliu Posted July 10, 2014 Share Posted July 10, 2014 $4.3B now LOL Link to comment Share on other sites More sharing options...
writser Posted July 10, 2014 Share Posted July 10, 2014 IB showing me 58.2K shares available to sell short... tempting. Hah, that was a _very_ expensive lesson. Link to comment Share on other sites More sharing options...
Liberty Posted July 10, 2014 Share Posted July 10, 2014 http://www.businessinsider.com/a-closer-look-at-introbizcom-2014-7 The company's stock gained nearly 25,000% in just 16 trading days, giving it a market cap of over $4 billion. But as we noted, it's not clear if the company really exists, as financial statements indicate that it has no revenue, assets, or full-time employees. Link to comment Share on other sites More sharing options...
wachtwoord Posted July 10, 2014 Share Posted July 10, 2014 For educational purposes: anyone shorting this? Care to elaborate? Link to comment Share on other sites More sharing options...
yadayada Posted July 10, 2014 Author Share Posted July 10, 2014 I think the reason it is going so high is because of very bad liquidity. So if you have a take on that, then you can short? Maybe if you see signals that insiders are starting to dump hard. Link to comment Share on other sites More sharing options...
Liberty Posted July 10, 2014 Share Posted July 10, 2014 I think the reason it is going so high is because of very bad liquidity. So if you have a take on that, then you can short? Maybe if you see signals that insiders are starting to dump hard. Nothing goes up 16,500% in less than a year just because of liquidity issues. Something seriously weird is going on here, and I pity anyone who has lost their kids college funds in the past few months shorting this... Link to comment Share on other sites More sharing options...
benhacker Posted July 10, 2014 Share Posted July 10, 2014 Borrow is unavailable at IB, with an indicated rate of 120% annualized to borrow. Short squeeze kids... massive short squeeze. Anyone who actually owns shares in this and isn't selling I would love to know why. Ben Link to comment Share on other sites More sharing options...
yadayada Posted July 10, 2014 Author Share Posted July 10, 2014 Cynk Technology Corp., formerly Introbuzz, Inc., is a development stage-company. The Company intends to develop a social network business. Social networks are Web based services that allow individuals to post a profile and link their profile to other friends and organizations. The Company intends to develop a database of professional and other business persons, as well as other interested persons in providing and utilizing contacts. I love how they also explain what a social network is haha. It is like this is some kind of time travel thing gone wrong. They travelled back from 2004 or something and by accident it is still valued at 5 billion$. Link to comment Share on other sites More sharing options...
bobp Posted July 10, 2014 Share Posted July 10, 2014 Maybe they're changing the name to Cynk .Com. Adding .com 15 years ago was enough to get a double or triple out of any non-existent company. Link to comment Share on other sites More sharing options...
fareastwarriors Posted July 10, 2014 Share Posted July 10, 2014 http://www.cnbc.com/id/101825780?trknav=homestack:topnews:6 Penny stock soars to $6B, and even the auditor is perplexed Link to comment Share on other sites More sharing options...
peter1234 Posted July 11, 2014 Share Posted July 11, 2014 Here is a good summary in the WSJ http://blogs.wsj.com/digits/2014/07/10/a-social-network-with-no-members-but-a-4-billion-valuation/ Here is a good article on Seeking Alpha explaining the scheme: trading between insiders, creating short squeeze http://seekingalpha.com/article/2309115-cynk-technology-is-the-new-scheme-in-town Link to comment Share on other sites More sharing options...
wachtwoord Posted July 11, 2014 Share Posted July 11, 2014 Here is a good summary in the WSJ http://blogs.wsj.com/digits/2014/07/10/a-social-network-with-no-members-but-a-4-billion-valuation/ Here is a good article on Seeking Alpha explaining the scheme: trading between insiders, creating short squeeze http://seekingalpha.com/article/2309115-cynk-technology-is-the-new-scheme-in-town Isn't this what the damn SEC is for? I hate out non-free market but stopping things like this should be one of the benefits (which i don't think outweigh the disadvantages). If the SEC can't even do something about this, why don't disband them altogether and save a ton of money? Link to comment Share on other sites More sharing options...
NeverLoseMoney Posted July 11, 2014 Share Posted July 11, 2014 CYNK halted: https://www.otcbb.com/dynamic/marketwatch/mwsubhome.stm Halt Code U3: "Trading Halt - Extraordinary Event Halt Trading is halted because FINRA has determined that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or the security underlying an OTC ADR or has caused or has the potential to cause major disruption to the marketplace or significant uncertainty in the settlement and clearance process." Link to comment Share on other sites More sharing options...
augustabound Posted July 12, 2014 Share Posted July 12, 2014 Business insider attempted to call the CEO and got, "Jason". ;D Link to comment Share on other sites More sharing options...
wachtwoord Posted July 12, 2014 Share Posted July 12, 2014 http://static2.businessinsider.com/image/53c0457669bedd481078d753-758-570/javier-romero-2.png Such a shame Nokia already hired a new CEO :( Link to comment Share on other sites More sharing options...
augustabound Posted July 12, 2014 Share Posted July 12, 2014 Mo money, mo problems. 8) Link to comment Share on other sites More sharing options...
Liberty Posted July 15, 2014 Share Posted July 15, 2014 More details on this mess: http://www.businessinsider.com/cynk-founding-2014-7 Link to comment Share on other sites More sharing options...
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