A hedge fund pointed out the ridiculousness of a New Jersey deli trading at a $100 million valuation. Now the newly minted meme stock is popping as trading volumes explode.

To Greenlight Capital’s David Einhorn, Hometown International represented just one of many signs of excess that’s been building in the stock market over recent months. Hometown, which owns a single deli in New Jersey and recorded annual revenue of just $14,000 in 2020, sports a market valuation of …

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