1847 Holdings LLC ( EFSH ) shares are trading lower by 30% to 32 cents Monday morning announced a 1-for-15 reverse stock split of its common shares, effective November 11, which will reduce outstanding shares from approximately 11.4 million to e0.76 million.

CEO Ellery W. Roberts explained that the reverse split is a strategic decision to strengthen the company’s market position and support its acquisition-focused growth strategy, targeting undervalued, cash-generating businesses. Recently, 1847 completed a sale of High Mountain Door & Trim Inc. and closed an $11.1 million offering.

The company says it is also nearing an acquisition deal for a millwork, cabinetry and door manufacturer.

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According to data from Benzinga Pro, EFSH has a 52-week high of $69.16 and a 52-week low of $0.34.