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$100 million New Jersey deli company kills consulting deal with firm run by chairman s father
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$100 Million New Jersey Deli Company Kills Consulting Deal With Firm Run by Chairman s Father
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by Tyler Durden
Saturday, Apr 24, 2021 - 04:50 PM
Just days ago, we highlighted when fund manager David Einhorn pointed out a small New Jersey deli that was trading with an insane market cap of over $100 million as one of the hallmarks of the bubble the market is in. Einhorn wrote: Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.
Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.
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Just two years ago, we were at the middle of a massive fight between Gov. Murphy and George Norcross over tax incentives.
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$100 million NJ deli company was delisted for irregularities related firm E-Waste is under scrutiny, too CNBC 2 days ago Dan Mangan
The $100 million company that owns a New Jersey deli was delisted from an over-the-counter market platform because of public disclosure irregularities.
OTC Markets Group executives told CNBC that they are now examining the filings of a second firm E-Waste a shell company that has multiple ties to deli owner Hometown International.
OTC Markets officials would not say whether they have contacted the Securities and Exchange Commission about their concerns with Hometown International. © Provided by CNBC Your Hometown Deli in Paulsboro, N.J.
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