Hour Loop, Inc. to Ring Nasdaq Closing Bell

Rhea-AI Summary

Hour Loop, Inc. (NASDAQ: HOUR) will participate in a closing bell ceremony at the Nasdaq Stock Market on January 28, 2022, celebrating its recent listing on January 6, 2022. CEO Sam Lai will ring the Closing Bell with team members, marking a significant milestone in the company's history. Hour Loop operates as an online retailer, primarily selling on Amazon and Walmart, with plans for rapid expansion in vendor and product offerings. The ceremony can be viewed via Nasdaq's live stream and will be replayed on the Hour Loop investor relations website.

Positive

• Recent listing on Nasdaq enhances visibility and credibility.
• Plans for rapid expansion of vendor relationships and product SKUs.
• CEO publicly expresses confidence in future growth.

Negative

• Limited revenue generation from its own website and Walmart.
• High reliance on Amazon for revenue may pose risks.

REDMOND, Wash., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Hour Loop, Inc. (NASDAQ: HOUR) (“Hour Loop”), a leading online retailer, today announced that management will participate in a closing bell ceremony at the Nasdaq Stock Market on Friday, January 28, 2022 at 3:45 p.m. to 4:00 p.m. ET, in celebration of its recent listing on January 6, 2022. Sam Lai, CEO, will ring the Closing Bell alongside members of Hour Loop’s team.

“Ringing the opening bell at the Nasdaq is a significant milestone in the history of Hour Loop,” said Mr. Lai. “I want to thank our dedicated employees for their commitment that has made this event possible. We are excited about our bright future ahead and look forward to executing on our strategy to drive growth and deliver value for shareholders.”

The bell ringing event can be viewed on the Nasdaq live stream here.

A replay of the ceremony will be available at a later date on the Hour Loop investor relations website at: https://ir.hourloop.com.

About Hour Loop, Inc.
Hour Loop is an online retailer engaged in e-commerce retailing in the U.S. market. It has operated as a third-party seller on www.amazon.com and has sold merchandise on its website at www.hourloop.com since 2013. The Company expanded its operations to www.walmart.com in October 2020. To date, the Company has generated practically all of its revenue as a third-party seller on www.amazon.com and only a negligible amount of revenue from its own website and Walmart. Hour Loop manages more than 100,000 stock-keeping units (“SKUs”). Product categories include home/garden décor, toys, kitchenware, apparels, and electronics. The Company's primary strategy is to bring most of its vendors product selections to the customers. It has advanced software that assists the Company in identifying product gaps so it can keep such products in stock year-round including the entirety of the last quarter (holiday season) of the calendar year. In upcoming years, Hour Loop plans to expand its business rapidly by increasing the number of business managers, vendors and SKUs.

Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the Company's business strategy, product development and industry trends. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company's filings with the Securities and Exchange Commission, as the same may be updated from time to time. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Contact
Investor Relations
Alex Thompson, Greg Robles
Gateway Group, Inc.
(949) 574-3860
hourloop@gatewayir.com

FAQ

What is Hour Loop's recent milestone?

Hour Loop will ring the closing bell at Nasdaq on January 28, 2022, celebrating its listing.

When was Hour Loop listed on Nasdaq?

Hour Loop was listed on Nasdaq on January 6, 2022.

What does Hour Loop primarily sell?

Hour Loop primarily sells products as a third-party seller on Amazon and also on Walmart.

How is Hour Loop planning to grow its business?

Hour Loop plans to increase its number of business managers, vendors, and SKUs.