http://www.businessinsider.com.au/cynk-technology-2014-7

A 'Social Networking' Stock Has Exploded 25,000% In A Few Days, And It's Not Even Clear If The Company Exists
...
The stock trades over-the-counter on an unregulated exchange, and as a result isn’t required to follow the same financial reporting rules as companies that trade on the New York Stock Exchange or Nasdaq.

btw, the company has neither income nor assets and only one emplyee

is there more regulation needed on the otc market
or
needs the heavy regulatory burden be removed from nasdaq?

I think neither needs to be applied. Both regulated and unregulated exchanges can co-exist simultaneously.

Why is this a problem? If you want surety you will go where regulations exist.

I wish him good luck in finding investors lol

Guess none of those investors ever heard of due diligence.
Should seriously just stick to index funds if you don't know what you're doing

That's hilarious. Props to that guy.

Is this a problem? Stock prices are based on supply and demand.

Many individuals purchased this stock and knew (or should of) that it had no revenue or assets.