Vuzix Corporation (NASDAQ:VUZI) announced it is going to be included in the Russell 2000 and 3000 Indexes at the end of June.
The Russell Indexes collectively comprise 4,000 of the largest US stocks ranked by total market capitalization. FTSE Russell determines membership for its Russell indexes primarily by objective, market capitalization rankings and other attributes.
The move will take effect after the index’s annual reconstitution, which captures the 4,000 largest US stocks as of May 7.
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Membership in the US 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, Vuzix told shareholders.
“We are pleased to see our shares added to the Russell Indexes, one of the leading market performance benchmarks in North America,” Paul Travers, CEO of Vuzix, said in a statement.
“We view this as an important milestone and one that demonstrates Vuzix’ growing market leadership and enterprise value. At the same time, we feel this should help raise awareness and the appeal of Vuzix within the institutional investment community.”
Rochester-based Vuzix designs and manufactures augmented reality wearable display and computing devices that are worn like eyeglasses and typically include cameras, sensors, and a computer that enable the user to view, record and interact with video and digital content.
Shares of Vuzix were trading at around $19 in New York at the midway point of Wednesday’s trading session.
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Story by ProactiveInvestors
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