Waitr stock has been below $1 per share for 30 days, NASDAQ threatens to delist them

What a massive fall.

From 14.77 to half a dollar. Even oil field service companies are jealous.

Hornbeck right there with them. Louisiana gonna run out of publicly traded companies soon. Just lost Iberia Bank.

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Hornbeck right there with them. Louisiana gonna run out of publicly traded companies soon. Just lost Iberia Bank.

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JBE just planted some Tiger Stadium sod. They'll come back. Baton Rouge is really safe too. It was a crazy couple of weeks.

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Hornbeck right there with them. Louisiana gonna run out of publicly traded companies soon. Just lost Iberia Bank.

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Pool Corp is doing pretty dang good, HQ is nextdoor to Hornbeck

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Wall Street greed ruined Waitr.

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This statement is true.

When Fertitta bought the company they merged with another company up North that was horrible. They adopted that failing business model and went up on all of their fees, thus, eliminating all of the small restaurants that had made them what they were. For a guy that is supposed to be a great business mind, Fertitta shite the bed on this deal. He should have left it alone and simply expanded his market, he would have made a ton of cash. Waitr was simply making a percentage off of every restaurant they served at no real cost to them. It was stupid to merge with that failing company.

Now is the time to buy!

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Hornbeck right there with them.

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Years ago, I worked with a guy there who had around $150,000 worth of vested HOS stock options. He was in his 20s- that was by far his biggest asset.

The strike prices were between $5 and $10 per share. I told him to cash out. I sure hope he did.

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Would a reverse split save the stock from de-listing or is it too little too late?

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It would only delay the inevitable.

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When Fertitta bought the company they merged with another company up North that was horrible. They adopted that failing business model and went up on all of their fees, thus, eliminating all of the small restaurants that had made them what they were. For a guy that is supposed to be a great business mind, Fertitta shite the bed on this deal. He should have left it alone and simply expanded his market, he would have made a ton of cash. Waitr was simply making a percentage off of every restaurant they served at no real cost to them. It was stupid to merge with that failing company.

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Well to begin, Fertitta didn't buy Waitr. A special purpose acquisition company called Landcadia acquired Waitr. One of the main investors in the company was Fertitta, but he has ~$5M total in the company. After that acquisition, they merged with Bite Squad.

To call them changing their business model stupid means you don't realize they were losing $24M annually before hand and had to try something to become profitable. It obviously hasn't worked, but they had to try something.

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How much did Fertitta and the original companies cash out? Anyone know? It’s likely they made out pretty well by cashing out high to get their initial investment and some back. Then have no reason to sink anything more into it with no realistic shot at a recovery.

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No idea. I know back in August Fertitta bought an additional million shares with an avg price of about $1.45 / share. It puts him at 5 million total shares in the company.