Does the exhaust valve open and close? Take off the valve adjustment caps, turn it over, do you see the rocker going up and down and moving the exhaust valve, what about the intake valve is the rocker just loose? If the valve is stuck open i agree with the other guys, it can only be a bad guide, bent valve, or maybe carbon deposits. But since this happened suddenly i would think its something more catastrophic but it doesn't have to be.
First step i would think is remove pulse gen cover so you can see that the cam is turning by the rotor turning in there, then look in the valve adjustment caps and see if the exhaust valve is moving, and then the intake, if the cam is turning and the other valve moving then its just a stuck valve. Since its a 200ES with a decomp lever if you flip the lever up and crank it over does the lever drop back down? I have had them stick before that gives the appearance that something else is wrong and it was just the lever, this will also tell you without opening it up if the exhaust valve is moving to disengage the decomp lever after turning over.
If your really lucky you can pull the intake off and look down in and see if its got crud stuck in there and spray some PB blaster around the valve guide and then tap it through the adjustment hole. Spraying anything from the top won't do any good as the valve stem seal will keep it from seeping down into the guide anyway. Did you hear any noises when this happened? If you were really out of time due to bad timing you could have had the piston smack the valve, again you have to pull the CDI cover off and check the cam for rotation and timing.
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1984 Honda ATC200ES "Big Red"
1982 ATC200E "Hondie"
1988 TRX300FW "Project Quad" Still in progress....