Company with zero revenue and one employee currently worth 3.8B
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Re: Company with zero revenue and one employee currently worth 3.8B
#2It's pretty common in penny stocks. It's usually a scam to say "this stock has jumped 4000% in the last 12 hours!". Very commonly, the owner of the company puts a bunch of money in to inflate the stock, waits for others to continue inflating the stock, then sells it all for a quick profit.
Re: Company with zero revenue and one employee currently worth 3.8B
#3It's pretty common in penny stocks. It's usually a scam to say "this stock has jumped 4000% in the last 12 hours!". Very commonly, the owner of the company puts a bunch of money in to inflate the stock, waits for others to continue inflating the stock, then sells it all for a quick profit.
Its common to go from maybe 1mm mcap to 40mm but not all the way to 4bn. To cross a bn valuation is insane.
Re: Company with zero revenue and one employee currently worth 3.8B
#4Their site: http://site.introbiz.com
Apparently they're selling the contact information of celebrities, investors, developers, politicians, etc.
"At Black Book we provide contact information to world class artists. Upon purchase you will receive a file with the required information to be able to contact the artist."
"The information usually includes email and phone numbers to the artist's talent agent, publicist, legal representative, etc."
http://www.businessinsider.com/cynk-technology-2014-7
http://www.zerohedge.com/news/2014-07-09/full-list-companies...
Formerly "Introbuzz", also associated with "Sanchez Medical Services"
http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=8174...
http://www.sec.gov/Archives/edgar/data/1540160/0001165527130...
http://www.zerohedge.com/news/2014-07-09/sheer-insanity-no-r...
Marlon Luis Sanchez and Kenneth Carter seem to be the two primary executives of the company.
Re: Company with zero revenue and one employee currently worth 3.8B
#5If you look back one year, they had a similar spike last summer.
Re: Company with zero revenue and one employee currently worth 3.8B
#6http://www.4-traders.com/business-leaders/Marlon-Sanchez-0D4...
One guy owns 72% of the company.
Re: Company with zero revenue and one employee currently worth 3.8B
#7It's almost certainly a pump and dump operation or a target of opportunity by a pump and dump operation. Assuming it doesn't get delisted by the SEC first, it will continue for a few days and then suddenly lose 98%+ percent of that valuation in a matter of hours.
Edit: Yep, see their financial statement. https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf... It's even worse than you would otherwise think.
Re: Company with zero revenue and one employee currently worth 3.8B
#8It's pretty common in penny stocks. It's usually a scam to say "this stock has jumped 4000% in the last 12 hours!". Very commonly, the owner of the company puts a bunch of money in to inflate the stock, waits for others to continue inflating the stock, then sells it all for a quick profit.
Its common to go from maybe 1mm mcap to 40mm but not all the way to 4bn. To cross a bn valuation is insane.
Presumably if a company issues 4 billion shares to the founder, who sells a single share for a dollar, the company has a 4 billion dollar market cap?
Of course I'm sure anyone trading stocks seriously would see through such a ruse immediately.
Re: Company with zero revenue and one employee currently worth 3.8B
#9I'm no investor and don't plan to invest for the foreseeable future, but out of curiosity:
Wouldn't it theoretically make sense to go short on something so obviously bloated?
Re: Company with zero revenue and one employee currently worth 3.8B
#10I'm no investor and don't plan to invest for the foreseeable future, but out of curiosity: Wouldn't it theoretically make sense to go short on something so obviously bloated?
You won't find any stocks to borrow to go short.