FAST FIVE: The $100 Million New Jersey-Based Hometown Deli Has Fired Its Wrestling Coach CEO
The $100 Million New Jersey-Based Hometown Deli Has Fired Its Wrestling Coach CEO Last month, we highlighted when fund manager David Einhorn pointed out a 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.
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. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli.
It put the company's market cap at over $100 million. Not unlike Hometown Deli, E-Waste also had little ongoing business.