🚀 Cyngn Stock (CYN) Soars 80% Again Today—What’s Fueling the Frenzy?

Another day, another moonshot for Cyngn. The obscure tech stock just ripped 80% higher—adding to its recent tear. No news, no earnings, just pure market chaos.

The Retail Casino Strikes Again

Zero fundamentals? No problem. Traders are piling into CYN like it’s a meme coin with an AI buzzword attached. Short squeeze? Pump-and-dump? The algos won’t tell.

CYN’s Wild Ride

This isn’t investing—it’s gambling dressed in a Nasdaq ticker. The stock’s now a battleground for day traders and hedge funds playing hot potato with shares. Buckle up.

*Bonus jab: At least crypto admits it’s speculative.*

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During yesterday’s rally, Cyngn also announced a registered direct offering for its stock. The company priced shares and pre-funded warrants in the offering at $5.01 each. The offering includes 2,994,012 shares of CYN stock or warrants.

Cyngn expects gross proceeds from the offering to be $15 million. It will use net proceeds from this offering for general corporate purposes and working capital. Aegis Capital Corp. is the sole placement agent for the offering, with Sichenzia Ross Ference Carmel LLP providing counsel to Cyngn.

CYN Stock Movement Today

Cyngn stock was up 80.15% in pre-market trading on Friday, following a massive 171.46% rally yesterday. That’s welcome news for the shares, which are still down 89.32% year-to-date and 98.76% over the past 12 months.

Today’s movement comes with heavy trading, as more than 17 million shares of CYN stock changed hands. For comparison, the company’s daily average trading volume over the past three months was about 28,000 shares. It also saw heavy trading yesterday, as some 140 million shares were exchanged.

Is Cyngn Stock a Buy, Sell, or Hold?

Turning to Wall Street, there’s little coverage of Cyngn. Even so, TipRanks’ AI analyst Spark has the shares covered. It rates CYN stock a Neutral (40) with a $5 price target, suggesting a 63.24% downside. Spark cites “substantial financial difficulties, with negative profitability, cash FLOW issues, and a challenging valuation environment” as reasons for this stance.