Escalade, Incorporated (NASDAQ: ESCA) shares witnessed a significant surge on Monday, continuing the momentum that began late last week. ESCA closed at $13.84 after a 5.65% increase in trading during the regular session. Subsequently, the stock price increased by 8.02% after hours, reaching $14.95. Following the company’s historic event, which included ringing the NASDAQ closing bell, an upward trend was initiated.
Honoring 51 Years of NASDAQ Listing
To mark its 51st year of being listed on the NASDAQ, Escalade rang the Nasdaq MarketSite Closing Bell on Friday, August 23, 2024, in Times Square, New York. The meeting was arranged by Walter P. Glazer, Jr., President and CEO of Escalade, and included the spouses of business colleagues, top managers, and members of the board of directors.
In 1973, Escalade debuted on the then-new NASDAQ platform under the ticker symbol ESCA. It has been a consistent player in the market ever since, coming in at number one among the longest-running 1% of companies.
A History of Adaptability and Creativity
Escalade’s continued existence on the NASDAQ bears witness to its ability to withstand a range of economic adversities, including as recessions, natural catastrophes, international pandemics, and wars.
The corporation credits its longevity to its “Grit”—a ferocious will to innovate, conquer challenges, and stick to its core values of serving customers. Because of its unwavering spirit, Escalade has succeeded where others have failed.
Financial Optimization and Strategic Consolidation
In a strategic move, Escalade recently finished selling its Rosarito, Mexico, factory and associated properties in keeping with its plan to streamline operations. To improve efficiency and asset usage, the operations have been pooled into various locations around North America.
Escalade intends to use the proceeds of this transaction to pay down its higher-cost variable rate debt, which is in line with its continuous efforts to improve its financial standing. The company’s 446 workers in China and the USA continue to be essential to these strategic goals and to Escalade’s ongoing success.