New York City, New York Jun 10, 2021 (Issuewire.com) - Ideanomics (NASDAQ: IDEX), driving the sustainability transformation with solutions that shape the future of e-mobility and fintech, today announced it is set to join the broad-market Russell 3000® Index at the conclusion of the 2021 Russell indexes annual reconstitution. According to a preliminary list of additions posted on June 4, this will take effect after the US market opens on June 28.
The Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, ranking them by total market capitalization. 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. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
"Joining the Russell indexes enables Ideanomics to extend its reach into the institutional shareholder community where we believe our story is going to resonate extremely well. Our ability to derive revenues from the EV industry in the short, medium and long-term, sets us apart from many others in the sector, while our fintech group provides consistent results and spotlights our value to shareholders both today and tomorrow," said Ideanomics CEO Alf Poor. "We plan to utilize our inclusion in the Russell indexes as a platform to grow shareholder awareness which, with our team is executing our plans, delivering on commitments, and driving growth across our businesses, helping us stand out as a stock with breakout potential in an otherwise frothy market."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
Ideanomics is a catalyst for disruption to those industries where improvements in sustainability, transparency, and freedom of choice would have profound benefits on a global scale. The Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility & Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.
David Joseph Marketing
Source :Ideanomics Inc.
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