Why Did Just Kitchen’s Stock (CVE: JK) Suddenly Rise & Fall Recently?
Moreover, the company has recently finalized several prominent partnerships, including with Foodpanda and Uber Eats in preparation for Hong Kong’s substantial market potential.
Just Kitchen Holdings Corp. (CVE: JK) was established in June 2019, in an effort to bring its innovative “ghost kitchen” restaurant delivery model to customers across Taiwan. While the company’s founding coincided with the beginnings of the coronavirus pandemic, Just Kitchen has been able to take advantage of social distancing regulations and is expanding its kitchen-less system to Hong Kong, Singapore, the Philippines, and most recently to the United States.
Just Kitchen defines itself as a “ghost kitchen” operator, specializing in developing and marketing delivery-based food brands, but the company’s “hub and “spoke” strategy represents a key factor. The process consists of preparing food in advance via larger kitchen “hubs”, while the meal is assembled and finished at “spoke” kitchens located in prominent and densely populated areas.
Currently, Just Kitchen manages 18 “ghost kitchens” and is equally equipped with its own virtual ordering platform (JustMarket), in addition to being featured by third-party delivery services in operating countries. Moreover, the company has recently finalized several prominent partnerships, including with Foodpanda and Uber Eats in preparation for Hong Kong’s substantial market potential.
In April, Just Kitchen became listed on the Canadian Venture Exchange (CVE) as well as the Frankfurt Stock Exchange in Germany (FSE: 68Z). The company subsequently entered into New York’s OTC Markets in May (OTC: JKHCF), attracting significant investor interest and increasing the operation’s global estimated value. In June, with rising interest, the company announced a $16 million dollar deal whereas Just Kitchen’s stock would be further offered to the public. Though, in the past week, shareholders saw the stock fell by almost 20%. This reduction can be directly correlated to technical corrections, or market
corrections, which are unpredictable and do not affect Just Kitchen’s long-term growth.
Today, Just Kitchen’s “ghost kitchen” model is being utilized all over the world, far from the Far East. For restaurants, the system’s virtual network allows them to swiftly enhance a hybrid business – with both indoor dining and the ability to serve their product to any regional customer. At one point, the innovative concept was unveiled as a hybrid enterprise for food courts and franchise restaurants but has since transformed into an effective solution in the era of COVID.
In the current market, whether on Wall Street or Mainhattan, investors are looking towards a COVID-free (or controlled) future. In recent months, investments in tourism, the food industry, and other presently limited services have surged. As the Delta virus is seizing the international debate, Just Kitchen is ready to offer more restaurant variety and delivery to the socially distanced as well as initiate a new restaurant reality when normality eventually returns.