According to data from Google Finance as of 9:55 am ET, CYNK pared its losses to 64% to $US5.00 per share.
CYNK is one of the most bizarre stock stories we’ve seen in a while.
In just over two weeks of trading, shares went from about $US0.05 to about $US18, though the company appeared to have no revenue, no assets, and just one employee.
BI’s Julia La Roche tracked down the man currently identified as CYNK CEO, Javier Romero, who is just one in a series of people who have served as the company’s CEO, as well as its lone employee.
La Roche and BI’s Hunter Walker later spoke with John Kueber, a Nevada businessman who started CYNK in 2008, but later sold the company to a man named Kenneth Carter.
Shares of CYNK have been halted since July 11, and with a limited number of shares changing hands — and considering how unclear it is who actually owns those shares — expect the stock to have a wild ride today.
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