Lightwave Logic Joins the Russell 3000® Index
ENGLEWOOD, Colo., June 27, 2022 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ: LWLG), a technology platform company leveraging its proprietary electro-optic (EO) polymers to transmit data at higher speeds with less power, today announced that the Company's common stock will be added to the Russell 3000® Index after the market opens on Monday, June 27, 2022.
"Our inclusion in the Russell 3000® Index is an important milestone and testament to the Company's potential," said Dr. Michael Lebby, Chief Executive Officer of Lightwave Logic. "We have made unparalleled progress in the last twelve months with our competitively superior and unique technology. We believe we are well positioned to have our high-activity and high-stability organic polymers become ubiquitous in the fiber communications market. We expect that the awareness of being included in one of the most widely followed benchmarks will not only benefit our existing shareholders but will lead to a broader base of institutional investors."
The annual Russell index reconstitution captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalization. Lightwave Logic's membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the 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.
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.
For more information on the Russell 3000® Index and the Russell index reconstitution, please visit the "Russell Reconstitution" section on the FTSE Russell website.