ContextLogic Inc, one of the world’s largest mobile ecommerce platforms, announced the company expects to join the broad-market Russell 3000® Index after the conclusion of the 2022 Russell indexes annual reconstitution, effective after the market opens on June 27, 2022, according to a preliminary list of additions posted June 3, 2022.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, 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.
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“We’re pleased to be joining the Russell 3000®, as it greatly broadens Wish’s visibility among the investment community,” said Vijay Talwar, Wish’s CEO.
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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