PFSweb, Inc. , a global commerce services company, will 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.
Annual reconstitution of the Russell indexes captures the 4,000 largest US stocks as of May 6, ranking them by total market capitalization. Membership in the 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 3000® Index further illustrates the success and execution of our targeted strategy to maximize shareholder value,” said Mike Willoughby, CEO of PFSweb. “Following the sale of our LiveArea business last year, we have worked diligently to become a leaner, more fulfillment-oriented company. Looking ahead, we aim to support our continued growth by augmenting our fulfillment footprint and leveraging demand tailwinds within the eCommerce landscape, while also continuing to work on a full range of strategic alternatives for our PFS business.”
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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