As StreetInsider.com warned of yesterday, bubble-like penny stock Cynk Technology Corp. (OTC: CYNK) has been halted.
The reason is listed as U3 or Trading Halt - Extraordinary Event Halt:
Trading is halted because FINRA has determined that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or the security underlying an OTC ADR or has caused or has the potential to cause major disruption to the marketplace or significant uncertainty in the settlement and clearance process.
Trading is halted because FINRA has determined that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or the security underlying an OTC ADR or has caused or has the potential to cause major disruption to the marketplace or significant uncertainty in the settlement and clearance process.
Yesterday, shares of Cynk grabbed traders' attention as it surpassed a market cap of $6 billion although it has minimal assets, cash, revenue, etc.. StreetInsider.com notified FINRA of the issue.
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