Leafly Holdings, Inc. (NASDAQ:LFLY), is set to join the broad-market Russell 3000 Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, 2022, according to a preliminary list of additions posted earlier this month.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6th, 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.
“Inclusion in the Russell 3000 is a reflection of the progress we have made since becoming a public company earlier this year,” stated Yoko Miyashita, CEO of Leafly. “As the cannabis industry expands and Leafly continues to be a trusted resource and marketplace, I am pleased with the visibility this will create within the investment community and excited to build upon our success.”
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.
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