By Chris Wack
MicroVision Inc. will join the Russell 2000 Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28.
Membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
"We are extremely pleased that MicroVision is set to join the Russell 2000 Index," said Sumit Sharma, chief executive of MicroVision. "Joining this index is a reflection of the progress we have made this year in developing our technology, building a strong balance sheet, and increasing shareholder value."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
MicroVision shares were up 8.65% to $23.
(END) Dow Jones Newswires
June 10, 2021 08:42 ET (12:42 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.