tiny N.J. Deli - $113 million market value

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an example of how insane the stock market can sometimes be

this deli had revenue of $13,976 last year




https://www.cnbc.com/2021/04/30/new-jersey-deli-owner-disavows-100-million-stock-valuation.html


https://www.nytimes.com/2021/06/02/magazine/your-hometown-deli.html?action=click&module=Top%20Stories&pgtype=Homepage



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Quote: lilredrooster

...............................


an example of how insane the stock market can sometimes be

this deli had revenue of $13,976 last year




https://www.cnbc.com/2021/04/30/new-jersey-deli-owner-disavows-100-million-stock-valuation.html


https://www.nytimes.com/2021/06/02/magazine/your-hometown-deli.html?action=click&module=Top%20Stories&pgtype=Homepage

There’s a bit of a scam going on. This deli, which apparently is listed on some exchange “merged” with some overseas company. It looks like this overseas company is looking for a US footprint to either get more banking capital or is hoping this “deli” can get listed on a larger exchange and it opens it up to a larger investing market. Hence, the 100 million valuation is purely speculative on trying to get listed on an exchange. My guess is this overseas company “merged” with the deli to the tune of a few million dollars.

This is typical Wall Street bull crappo of “massaging” the system to get what you want. I’m assuming the regulators didn’t take issue either. This is how you avoid scrutiny. As a foreign company...merge with a Mickey Mouse deli that just happens to be publicly listed.

This is apparently a known practice. Find a company listed on an exchange....and as an overseas company, “merge” with them to gain access to American markets and potential capital investment and hopefully a listing with NYSE or Nasdaq.

The garbage head CEO disavowed the high valuation...but failed to explain why it was that high when he actually knew why....the deli was in a reverse merger plan with a foreign company. Slimey CEO.


https://nypost.com/2021/06/03/100m-nj-deli-is-shell-company-in-reverse-merger-scheme-report/



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I stopped reading the post after reading this. I certainly didn’t bother reading the links.

There’s NO WAY a business of ANY SIZE can even think of surviving with so little revenue.

Quote: lilredrooster

this deli had revenue of $13,976 last year

Quote: DJTeddyBear

I stopped reading the post after reading this. I certainly didn’t bother reading the links.

There’s NO WAY a business of ANY SIZE can even think of surviving with so little revenue.

The snack bar at the marina near my family's summer house never opened last summer. $14,000 is a decent summer weekend most years, but it had zero revenue last year. It's still a gold mine and worth its weight in gold.

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the reddit wall street bets gang and others have piled on and created another short squeeze on AMC - the movie theatre chain

short sellers, usually hedge funds, have lost billions

it is what is now called a "meme" stock - a loser being manipulated by some jokers

AMC's market value went from less than $1 billion to close to $12 billion in a very short time





https://www.cnbc.com/2021/05/28/amc-short-sellers-dealt-massive-1point2-billion-blow-after-stock-rally.html




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Stepdaughter is Reddit! She bought 30 shares of AMC around a month ago. Was holding... until yesterday.... sold at $60. That’s $1500 profit. She knows I’ve retired early She said she hopes to use her stock trading to do so as well. She is only 22.... I will be in NJ later this month. Maybe I’ll go get a pastrami sandwich at that deli?

Quote: billryan

The snack bar at the marina near my family's summer house never opened last summer. $14,000 is a decent summer weekend most years, but it had zero revenue last year. It's still a gold mine and worth its weight in gold.

What’s your point? $14K in a weekend is good. $14K in a YEAR is not.

Quote: DJTeddyBear

What’s your point? $14K in a weekend is good. $14K in a YEAR is not.

Last year was not a typical year. No business is going to be valued based on last year's sales. There are three bars and an art gallery that I'm mildly interested in. I wish we could use 20020 revenue as the starting point of negotiations.