Groundhog Day All Over Again Envela Rescheduled to Ring NYSE Closing Bell

Rhea-AI Summary

Envela Corporation (NYSE American: ELA) is set to ring the New York Stock Exchange's closing bell on February 6, 2023, after a rescheduling due to winter weather in Dallas. CEO John Loftus highlighted the company's commitment to sustainability and its circular business model, which promotes extending the useful lives of products and reducing landfill waste. This model not only boosts re-commerce growth but also allows consumers to positively impact the environment. Envela operates through various segments, including DGSE and ECHG, focusing on retail and recycling of durable goods and electronics.

Positive

• Envela's circular business model supports sustainability and environmental impact.
• The company operates through two growth-oriented segments: DGSE and ECHG.
• Recent recognition of multiple years of growth across its business units.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / February 2, 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 Monday, February 6, 2023.

In a twist befitting of the 1993 film Groundhog Day-when TV weatherman Bill Murray re-lived the same day over and over till he got it right-Envela had to reschedule its Groundhog-Day closing-bell appearance at the NYSE due to . . . more winter weather in Dallas.

"What a perfect, ironic way to celebrate our Company's sustainability focus," chuckled Loftus. "Over and over each day, we extend the useful lives of products to reduce landfills, help our environment, and make our planet healthier."

This "circular-business" model helps businesses reduce and recover costs associated with technology upgrades, empowers consumers to make an environmental impact with their purchasing decisions, and facilitates further re-commerce growth.

No matter when or how often you celebrate Groundhog Day this year, we invite you to join the re-commerce revolution.

The Closing Bell® will ring on Monday, February 6, 2023, at 4:00 p.m. ET. Although the NYSE trading floor is not open to the public, interested parties may tune in to broadcast media coverage of the bell and a live stream on the NYSE's website, https://www.nyse.com/bell. Envela shareholders in the New York area wishing to attend NYSE's The Closing Bell® on February 6^th should contact Envela's Investor Relations department today, February 2^nd, 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 our social media channels 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/737920/Groundhog-Day-All-Over-Again-Envela-Rescheduled-to-Ring-NYSE-Closing-Bell

FAQ

What date will Envela ring the NYSE closing bell?

Envela will ring the NYSE closing bell on February 6, 2023.

Why was the NYSE closing bell appearance rescheduled for Envela?

The appearance was rescheduled due to winter weather in Dallas.

What is the focus of Envela's business model?

Envela focuses on sustainability through its circular business model, extending the useful lives of products.

What are the main business segments of Envela?

Envela operates through two segments: DGSE for retail and ECHG for electronics recycling.

How does Envela contribute to environmental sustainability?

Envela reduces landfill waste by promoting the reuse and recycling of durable goods.