17-Jun-2022 Source: Archer Aviation
Archer Aviation Inc. (NYSE: ACHR) today announced that it will be included in the Russell 2000®and 3000® Indexes at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, 2022.
The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 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.
“We are pleased to be included in the Russell 2000® and 3000® indexes, a key milestone for our business since becoming a publicly traded company in September 2021,” said Adam Goldstein, Archer’s Founder and CEO. “I know that our inclusion in the index will not only help to broaden our visibility with the investment community but to demonstrate our continued commitment to creating value for our shareholders as we move forward with our vision of commercializing our eVTOL aircraft as expeditiously as possible.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.