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Pinstripes Holdings, Inc. - $pnst STOCK NEWS

Welcome to our dedicated page for Pinstripes Holdings news (Ticker: $pnst), a resource for investors and traders seeking the latest updates and insights on Pinstripes Holdings stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Pinstripes Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary

Pinstripes Holdings, Inc. announced a strategic real estate partnership with Newmark to accelerate its expansion efforts. The company is focusing on its rollout strategy in the U.S. with a blend of dining and entertainment experiences. With seventeen venues currently open, two more opening soon, and four additional sites planned for 2024/2025, Pinstripes aims to reach at least 150 locations nationwide.

Rhea-AI Impact
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End-of-Day
-1.09%
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partnership
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Rhea-AI Summary
Pinstripes Holdings, Inc. reported a 14.1% revenue growth in the fiscal third quarter of 2024, with 6.9% same store sales growth year-over-year. The company's total revenue reached $32.2 million, driven by food and beverage as well as recreation revenues. Pinstripes opened three new venues, bringing the total count to 16. Despite an operating loss of $(3.1) million, the net income was $12.2 million, primarily due to a gain on change in fair value of warrant liability. The Venue-Level EBITDA margin was 19.4%, with Adjusted EBITDA at $0.4 million. The company aims to expand to at least 150 total locations domestically, with new venues opening in Orlando, Walnut Creek, and Coral Gables.
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End-of-Day
-4.69%
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Rhea-AI Summary
Pinstripes Holdings, Inc. will host a conference call to discuss fiscal third quarter 2024 financial results on February 21, 2024. The call will be led by Dale Schwartz, President and CEO, and Tony Querciagrossa, CFO. The conference call can be accessed live over the phone or webcast from the Company’s corporate website.
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Rhea-AI Sentiment
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-1.1%
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Rhea-AI Summary
Pinstripes Holdings, Inc. reported a 14.1% increase in total revenue, with food and beverage revenues up by 14.2% and recreation revenues increased by 13.9% for the fiscal third quarter ended January 7, 2024. The company opened one new venue during the quarter and plans to open four more locations by May 2024. However, the preliminary sales results are subject to change and should not be viewed as a substitute for full financial statements.
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End-of-Day
23.78%
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Rhea-AI Summary
Pinstripes, Inc. (PNST) to Begin Trading on NYSE on January 2, 2024, Following $70 Million Raised, Including $50 Million in Senior Secured Financing from Oaktree
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-15.73%
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Rhea-AI Summary
Pinstripes, Inc. (PNST) and Banyan Acquisition Corporation (BYN) announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form S-4, as amended, in connection with the proposed business combination. The special meeting of Banyan stockholders to approve the Business Combination is scheduled for December 20, 2023. The combined company's Class A common stock and warrants are expected to be listed on NYSE under the ticker symbols 'PNST' and 'PNST WS,' respectively.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.09%
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Pinstripes Holdings, Inc.

NYSE:PNST

PNST Rankings

PNST Stock Data

121.47M
17.45M
42.21%
5.62%
0.63%
Restaurants
Consumer Cyclical
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United States of America
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