Cynk Sinks [and Stinks]

Cynk Lives Up to Its Name


Shares of Cynk Technology Corp. tumbled 85% Friday after trading resumed following a two-week halt imposed by regulators. Cynk, which describes itself as a social network, dropped $11.80 to close at $2.10. The Securities and Exchange Commission this month halted all trading in the stock, citing concerns about "potentially manipulative transactions" in the shares. Cynk's stock soared earlier this year, trading as high as $21.95 after spending much of the spring between six and eight cents a share. Cynk has no revenue, no assets and one employee. The company, whose mailing address is listed in Belize City, Belize, has had four chief executives since 2008. It was founded in Las Vegas under the name Introbuzz. The company couldn't be reached for comment.
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