Airship AI Set to Join Russell 3000®, Russell 2000® and Russell Microcap® Indexes
Airship AI Holdings (NASDAQ: AISP) will join the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes following the 2024 FTSE Russell indexes annual reconstitution, effective after U.S. markets close on June 28, 2024. Membership in these indexes, based on market capitalization rankings, will last for one year, providing inclusion in the appropriate large-cap, small-cap, growth, and value style indexes. The Russell US indexes, managed by FTSE Russell, are widely used as benchmarks by investment managers and institutional investors, with $10.5 trillion in assets benchmarked against them as of December 2023.
- Airship AI (AISP) will join the Russell 3000®, 2000®, and Microcap® Indexes, indicating market recognition.
- Effective inclusion date is June 28, 2024, marking a milestone for Airship AI.
- Membership spans one year, offering stability and potential visibility for investors.
- $10.5 trillion in assets are benchmarked against Russell US indexes, suggesting increased investor interest.
- No detailed financial data provided in the PR, limiting visibility on the company's current financial health.
- The PR lacks specific information about how inclusion in the indexes will impact the company's revenue or profitability.
Insights
The inclusion of Airship AI in the Russell 3000, Russell 2000 and Russell Microcap indexes has several implications for investors. These indexes are widely used as benchmarks by investment managers and institutional investors, with around
For retail investors, this inclusion often signals a mark of legitimacy and stability, given that the company's market capitalization and other metrics have met the stringent requirements set by FTSE Russell. This could lead to an appreciation in stock value over time as institutional investments typically bring in significant capital. However, it's important to consider that this inclusion alone does not guarantee future performance; it simply means the company has reached a certain scale and market capitalization as of the evaluation date.
Joining the Russell 3000 and its subsets like the Russell 2000 and Russell Microcap indexes is a significant development for Airship AI. Financially, these inclusions often lead to increased demand for the company's shares due to the need for index funds to rebalance their portfolios in accordance with the new index compositions. This effect typically results in a short-term boost in the stock price as funds purchase shares to align with the index.
From a long-term perspective, being part of these indexes could enhance the company’s visibility and reputation in the financial markets, potentially making it easier to raise capital and execute strategic initiatives. However, it's also important to note that this increased visibility means the company will be under more scrutiny from analysts and investors, which could lead to greater volatility if the company fails to meet market expectations or delivers inconsistent financial performance.
REDMOND, Wash., May 28, 2024 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc. (NASDAQ: AISP) (“Airship AI” or the “Company”), a leader in AI-driven video, sensor, and data management surveillance solutions, today announced that is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 FTSE Russell indexes annual reconstitution process, which is effective after the U.S. markets close on June 28, 2024 according to a preliminary list of additions announced on May 24, 2024.
The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, 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.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about
About FTSE Russell
FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.
FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit https://www.lseg.com/en/ftse-russell.
About Airship AI Holdings, Inc.
Founded in 2006, Airship AI is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI’s product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools. For more information, visit https://airship.ai.
Forward-Looking Statements
The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of financial, performance and operational metrics and projections of market opportunity; (2) changes in the market for Airship AI’s services and technology, expansion plans and opportunities; (3) the projected technological developments of Airship AI; and (4) current and future potential commercial and customer relationships. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI’s management and are not predictions of actual performance. These forward-looking statements are also subject to a number of risks and uncertainties, as set forth in the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024, and the other documents that the Company has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while it may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Investor Contact:
Chris Tyson/Larry Holub
MZ North America
949-491-8235
AISP@mzgroup.us
FAQ
What is the significance of Airship AI (AISP) joining the Russell 3000®, 2000®, and Microcap® Indexes?
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