Shares of tiny Facebook rival wannabe halted
A little known company that’s turned into a strange sensation on Wall Street saw its shares get halted Friday.
Cynk Technology, a company that claims to be building “social network business” that trades on the lightly supervised Pink Sheet marketplace under the symbol CYNK, saw its shares get halted by the Financial Industry Regulation Authority. Finra is a key securities oversight body.
The Securities and Exchange Commission also temporarily suspended the shares “because of concerns regarding the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in CYNK’s common stock,” the SEC said in a statement.
Shares of the company have rocketed 24,000% in the past few weeks. Finra did not give details on the reason for the trading halt.
Source: Usatoday
Related Posts
SEC Probes Threat From Cyber Attacks Against Wall Street
Wall Street Trading Desks Upgradng Technology – And The Sales Traders That Use It
Merrill Lynch to its brokers: make at least two client referrals to avoid a cut in pay
Facebook beats Wall Street targets, stock hits record high
Broker charged with giving special access to IPOs for cash kickbacks
