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Hometown International stock is trading at levels that give it a valuation of more than $100 million. The company’s shop, the Hometown Deli, did just $35,000 in sales – combined – over the past two years, a financial filing says.
That’s via CNBC which posted up a piece on the business after David Einhorn of Greenlight Capital, writing in his quarterly letter to shareholders, referred to it as an example of a ”completely” broken market:
From CNBC:
- “The pastrami must be amazing,” Einhorn cracked of the company, whose stock from late March 2020 to early September rose to more than $9 per share from $3.25 per share despite the deli – its only operating business – being closed due to the coronavirus pandemic during that time frame.
Its a fascinating read from CNBC … although the information in it might raise some suspicions that the pastrami., and perhaps other things about the business, is not quite kosher.
While its a bit peculiar is it any more so than DOGE, which has doubled in just the past few days?
This article was originally published by Forexlive.com. Read the original article here.