The $100 million company that owns only a single New Jersey deli was delisted from the OTCQB over-the counter-market “for not complying with the rules” and slapped with a warning label for would-be buyers on Wednesday night.
The action came six days after the money-losing deli owner, Hometown International, was flagged as a warning to retail stock customers in a client letter by hedge fund manager David Einhorn.
Hometown International’s stock, traded on the over-the-counter market, has soared over the past year, giving it a market capitalization of a $100 million or more despite sales at that Paulsboro, N.J., deli of only about $35,000 combined in the past two years.
The $100 million company that owns only a single New Jersey deli was delisted from the OTCQB over-the counter market “for not complying with the rules” and slapped with a warning label for would-be buyers on Wednesday night, the CEO of the company that operates that market said in a tweet.
