A penny stock, a social network company CYNK goes from 10 cents in June, peaks out at $21, trading halted at $13 a share. Some say it took too long to smell the stink on this poop but penny stocks are less regulated on the Over The Counter (OTC) market.
http://www.cnbc.com/id/101826786
No true financial reports from company. Only a few employees. At one the company would've worth 4 billion dollars based on stock. Even for penny stocks this was crazy.
http://www.cnbc.com/id/101826786
No true financial reports from company. Only a few employees. At one the company would've worth 4 billion dollars based on stock. Even for penny stocks this was crazy.