#3 - Envela (NYSEAMERICAN:ELA)
Envela (ELA) Year-to-date gain: 170%
Another stock that is a good play on gold stocks is Envela (NYSEAMERICAN:ELA). The company buys items such as jewelry, watches, diamonds and precious metals. It’s a pretty simple premise, as gold rises in value, customers look to sell their gold holdings. And if you take a look at the ELA stock chart, you can see that when gold prices spiked in the early 2000s and again around 2010, ELA stock reached its record high both times. Of course past history is not a guarantee of future performance, but there’s no reason to believe that the country will be tightening monetary policy anytime soon. And that bodes well for investors in ELA stock.
With many of these small-cap companies, market cap can be very fluid because they can increase quickly as the share price increases. That’s the case with Envela that has seen its stock has grown 170% this year and its market cap has also grown to $99 million.
About Envela
Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.
Read More - Current Price
- $6.50
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.00 (7.7% Upside)
