Publicly Traded $100 Million Company Is a Modest New Jersey Deli
Despite being closed for much of the coronavirus pandemic, Your Hometown Deli saw prices of its shares skyrocket.
Your Hometown Deli, a modest little shop in New Jersey that sells sandwiches, coffee and soft drinks reportedly made $18,000 in sales last year, and a little over $35,000, combined with the year before. But, the deli is valued at more than a staggering $100 million.
“I’m lucky in the way I have good people around me,” the owner Paul Morina, a local wrestling coach and high school principal, once said in an interview with Jersey Sports Zone.
The deli is the sole location of Hometown International, a public company that began being traded in 2019, CNBC reported.
The company saw its stock prices skyrocket last year due to the coronavirus pandemic, despite its single location being closed between March and September of 2020, according to CNBC.
Shares of the company were priced at $3.25 before the pandemic, CNBC reported. As Friday’s market close, its stocks traded at just under $13, according to Yahoo Finance.
How the deli is valued so high, however, stumps many. “The pastrami must be amazing," David Einhorn quipped on CNBC.
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