FormFactor Joins Russell 1000 Index, Set for Passive Fund Inflows
FORM has more than doubled off its 52-week low of $26.08.
Summary
FormFactor has been added to the US large-cap Russell 1000 Index, with the change effective when the US market opens on June 29th. This inclusion follows the company's strong first-quarter results and positive guidance reported in April and May. Membership in the Russell 1000 is expected to increase the company's visibility among institutional investors and drive passive fund inflows, validating its growth strategy.
At the time of this announcement, FORM was trading at $143.17 on NASDAQ in the Technology sector, with a market capitalization of approximately $11B. The 52-week trading range was $26.08 to $159.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.