Congress
4 hours ago
That's an oddly high valuation because the company, Hometown International, owns a delicatessen — and only one small delicatessen — in Paulsboro, where the Morina-coached high school wrestling team frequently wins state championships. The company has disclosed that it has shareholders based in China's Macau territory.
The shop, Your Hometown Deli, did just $35,000 in sales — combined — over the past two years, according to Hometown International's annual report, filed March 26 with the Securities and Exchange Commission.
"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.