Why Diversified Acquisition Firm 1847 Holdings Shares Are Up Today

1847 Holdings LLC EFSH shares are surging Friday morning. The company’s stock fell over 23% past month.

On Wednesday, the company disclosed that it had secured a $750,000 credit facility for its Wolo Manufacturing Corp. subsidiary.

Wolo manufactures and distributes vehicle horns and safety products and offers vehicle emergency and safety warning lights for cars, trucks, industrial equipment, and emergency vehicles.

Ellery W. Roberts, CEO, said, “Furthermore, this facility strengthens Wolo’s liquidity and increases its financial flexibility, enabling it to grow its business without any equity dilution at either the 1847 or subsidiary level. With this enhanced credit capacity, combined with growing customer demand and easing of supply chain pressure, Wolo has the potential to increase its sales by 50% to 70% year-over-year in 2024.”

In December, the company disclosed a 1-for-4 reverse split of its common shares that became effective on January 8, 2024.

Price Action: EFSH shares are up 5.35% at $1.591 on the last check Friday.