By Ben Levisohn
Shares of Cynk Technology have resumed trading today, but it’s still priced well above $2. This for a company that has, in the words of BusinessWeek’s Zeke Faux and Dune Lawrence, “no assets, no revenue, and one employee.”
The headlines tout Cynk’s 80%+ drop today, with the move being called a “plummet,” “plunge,” or, in the dry-world of Bloomberg, a “fall.” Reuters even quoted folks predicting that “the chances of the stock resuming trading are slim at best.” It’s traded 335,526 shares so far today, according to FactSet.
Still, the question needs to be asked: How can Cynk be trading for $2.50 a share when there’s literally nothing there?