Technology company Cynk Technology (NASDAQOTH:CYNK) has exploded, both in terms of stock appreciation and interest. And who can blame investors for seeking information on a company that can boast of a return of 13,800% in a little under a month? If we annualized that figure -- adding a few days to its tremendous run to give it a full month -- you come to a whopping figure of 47,744,865,089,059,690,859,612,279,905,179,462,444,580,409,205,601%, or you'd be sitting on a gain of roughly 48 quindecillion percent. For perspective, the bolded number sequence is trillions -- a figure representing the US GDP (roughly $17 trillion) and our debt (nearly $17.5 trillion).
In today's Stock of the Day, Jamal Carnette and Mark Reeth discuss this company. The SEC halted trading today due to "potentially manipulative transactions," and for good reason -- the company appears to have one employee, no assets, huge accumulated losses, and no revenue. And while we at The Motley Fool love to have a good time, losing hard-earned money on poor and/or potentially illegal investments is no laughing matter.
Be careful fellow investors.