ANSWERING A QUESTION,AGAIN... Was that investment in a penny stock, a couple weeks ago that improved at a ratio of 360 to 1 in a couple months, true?? Well, yes and no.. Cynk Technology is a company incorporated in Nevada but headquartered in Belize. Yes, it did improve 360 to 1 but the SEC(Securities and Exchange Commission) stopped its trading to investigate what was going on. The company was on the verge of bankruptcy for a long time, up to a month earlier. The SEC found out the company had little assets and no sales revenue. So that means they didnt own or have anything and no money coming in. Ironically,their stock went from 6 cents a share to over $21 a share. They were a social website similar to Facebook. This shows the possible danger of penny stocks. There can be serious problems with penny stocks though people find them attractive. I will explain it below.
Posted on: Mon, 21 Jul 2014 12:02:52 +0000
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