1847 Holdings LLC, an innovative holding company seamlessly integrating private lower-middle market businesses with the transparency of a publicly traded entity, saw an extraordinary upswing in its stock on Monday morning, which was a direct result of the initiation of a 1-for-4 reverse stock split as the market commenced trading on January 8, 2024.
1847’s common shares will continue trading on the NYSE American under the symbol “EFSH,” with the newly assigned CUSIP number for the common shares post-reverse split being 28252B879. The reverse split is anticipated to significantly reduce the outstanding shares from approximately 3.43 million to about 0.86 million, along with a reduction in the Company’s float from approximately 3.40 million to roughly 0.85 million.
Closing at $2.24 in Friday’s session, 1847 Holdings’ stock commenced trading at $2.55 on Monday morning, reflecting the positive impact of the reverse stock split.
At the time of this publication, 1847 Holdings LLC stock (EFSH) has witnessed a surge.
1847 Holdings LLC
Current Price: $2.90
Change : +2.34
Change (%): (418.07%)
Volume: 1.1M
Source: Tomorrow Events Market Data
CEO Ellery W. Roberts shared insights into the company’s strategic direction, stating, “We continue to execute on our strategy of acquiring undervalued, cash flow-positive, lower-middle market businesses at attractive valuations.” Roberts acknowledged the challenges in the overall capital markets but expressed confidence that the reverse split would tighten the public float, making the stock more appealing to a broader range of institutional and other investors.
The strategic restructuring aligns with the company’s capitalization plans and positions 1847 for future accretive acquisitions. Roberts emphasized that this move acknowledges the challenging capital market conditions and aims to fortify the company’s position for sustained growth.
1847 Holdings’ Recent Stock Performance:
– 5 Day: +45.22%
– 1 Month: +32.85%
– 3 Month: -25.07%
– YTD: +45.22%
– 1 Year: -98.56%
Investors are closely monitoring the impact of these changes as 1847 Holdings navigates the evolving financial landscape in pursuit of its strategic objectives.
