Just Kitchen (JK.V)

(A Top Pick Feb 23/22, Down 92%) Markets can be humbling. Continues to execute. Concept is still intact. Ghost kitchens avoid overhead costs. More and more people are eating out. Market had shied away from companies growing but no profit.

Concern about kitchens being in Taiwan, potential for invasion by China. Supplying semiconductor companies cuts costs and increases sales volume. Continues to add brands and hubs. Revenue line still increasing, so he still likes.

Hub and spoke model for food delivery. Hub is where they precook and assemble, spoke is where they deliver from. So you can have several different brands delivered from the same spoke. In one of the markets, they have pet food too. Focused in Hong Kong and Taiwan. Revenue increasing by 30-50% a year. Fairly reasonable multiple. On the cusp of signing marquee brands. No dividend. (Analysts’ price target is $3.40)