Envela to Ring Closing Bell at New York Stock Exchange

Rhea-AI Summary

Envela Corporation (NYSE American: ELA) announced it will ring the Closing Bell at the New York Stock Exchange on February 2, 2023, highlighting its commitment to sustainability via a circular-business model. This model extends the useful lives of luxurious and electronic goods, reducing landfill waste and creating environmental benefits. The company operates through two segments: DGSE for retail sales and ECHG for B2B re-commercialization of electronics. Envela’s focus on re-commerce aligns with growing consumer awareness regarding ecological impacts, supporting its mission for a sustainable future.

Positive

• Scheduled to ring the NYSE Closing Bell on February 2, 2023, enhancing corporate visibility.
• Promotes sustainability through a circular-business model that reduces waste.
• Engages in two active business segments: DGSE (B2C) and ECHG (B2B), both contributing to growth.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / January 30, 2023 / Envela Corporation (NYSE American:ELA) ("Envela" or the "Company"), the North American re-commerce leader, today announced that John Loftus, Chief Executive Officer, and other Company leaders are scheduled to ring the New York Stock Exchange's closing bell on Thursday, February 2, 2023-Groundhog Day.

While some may recall the 1993 film Groundhog Day on this occasion-when TV weatherman Bill Murray re-lived the same day over and over till he got it right-we thought it apt to celebrate our Company's sustainability focus. We extend the useful lives of luxury and electronics products over and over every day, which reduces landfills, helps our environment, and makes our planet healthier.

This "circular-business" model also helps businesses reduce and recover costs associated with technology upgrades. And as consumers become more aware of the environmental impact their purchasing decisions make, the more they facilitate re-commerce growth.

On Groundhog Day this year, we invite you to join the re-commerce revolution.

The Closing Bell® will ring on February 2, 2023, at 4:00 p.m. ET. The NYSE trading floor is not open to public but interested parties may tune in to broadcast media coverage of the bell as well as a live stream on the NYSE's website at: https://www.nyse.com/bell. Envela shareholders in the New York area wishing to attend NYSE's The Closing Bell® on February the 2^nd would need to contact Envela's Investor Relations department today, January 30^th, by 5p.m. CST. Videos and photos of the ceremony will be shared on the NYSE and Envela social media channels.

About Envela

Envela is the North American re-commerce leader, enabling a better world through the circular economy. It empowers buyers and sellers to extend the useful lives of specialty and durable goods; and seize retail, recycling, and reverse-logistics supply-chain opportunities. This financially benefits consumers and manufacturers alike. Envela operates primarily via two re-commerce business segments, DGSE and ECHG. DGSE (Envela's B2C portfolio) operates retail stores and online sites offering luxury hard assets and precious metals, including gold, silver, and diamonds. ECHG (Envela's B2B portfolio) re-commercializes consumer electronics and IT equipment, and provides end-of-life recycling services for products in a variety of industries. Envela conducts its re-commerce operations at retail and wholesale levels, through distributors, resellers, dedicated stores, and online. Holdings in all of Envela's business units have recognized multiple years of growth.

At Envela, we Reuse, Recycle, and Reimagine. To learn more, visit Envela.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, including statements regarding financial strength, acquisitions, and the potential future success of business lines and strategies. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.

Investor Relations Contact:

Investor Relations
1901 Gateway Drive | Irving, TX 75038
investorrelations@envela.com

SOURCE: Envela Corporation

View source version on accesswire.com:
https://www.accesswire.com/737202/Envela-to-Ring-Closing-Bell-at-New-York-Stock-Exchange

FAQ

What date will Envela Corporation ring the Closing Bell at the NYSE?

Envela Corporation will ring the Closing Bell on February 2, 2023.

What is Envela Corporation's focus in its business operations?

Envela focuses on sustainability and re-commerce by extending the life of luxury and electronic products.

How does Envela Corporation contribute to environmental sustainability?

Envela contributes to sustainability by reducing landfill waste through its circular-business model.

What are the main segments of Envela's business?

Envela operates mainly through DGSE, focusing on retail, and ECHG, concentrating on B2B electronics re-commercialization.

Why is the event on February 2, 2023, significant for Envela Corporation?

The event is significant as it symbolizes Envela's commitment to sustainability and elevates its visibility in the market.