Flotek Set to Join the Russell Microcap® Index
Flotek (NYSE: FTK) announced its inclusion in the Russell Microcap® Index, effective July 1, 2024, as part of the 2024 Russell US Indexes annual reconstitution. This inclusion is based on Flotek's market capitalization as of April 30, 2024. Membership in the index will last one year and includes automatic entry into relevant growth and value style indexes. Dr. Ryan Ezell, CEO of Flotek, emphasized that this milestone validates the company's progress over the past 18 months and is expected to enhance shareholder visibility within the investment community.
- Flotek will join the Russell Microcap® Index, enhancing visibility.
- Inclusion is effective July 1, 2024, providing a timeline for investors.
- Membership is based on objective market-capitalization rankings, ensuring transparency.
- The addition validates 18 months of company progress.
- Automatic inclusion in growth and value style indexes broadens investment appeal.
- The index membership lasts only one year, making it a short-term boost.
- Market capitalization as of April 30, 2024, determines eligibility, which can fluctuate.
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 Russell Microcap® Index, which remains in place for one year, means automatic inclusion in 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 Microcap® Index is an important milestone for Flotek and validates the progress we have made over the past 18 months in building a resilient and differentiated chemistry and data analytics business," said Dr. Ryan Ezell, Chief Executive Officer of Flotek. "We believe our addition to this index will greatly benefit our shareholders by boosting our visibility within the investment community. We look forward to introducing Flotek to a broader segment of investors through the inclusion in this prominent index."
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 Flotek Industries, Inc.
Flotek Industries, Inc. is an advanced technology-driven, green chemical and data analytics company providing unique and innovative completion solutions that have a proven, positive impact on sustainability and reducing the overall environmental impact of energy on air, land, water and people. Flotek has an intellectual property portfolio of over 170 patents and a global presence in more than 59 countries throughout
Flotek is based in
Forward-Looking Statements
Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/flotek-set-to-join-the-russell-microcap-index-302168342.html
SOURCE Flotek Industries, Inc.
FAQ
When will Flotek join the Russell Microcap® Index?
What criteria determined Flotek's inclusion in the Russell Microcap® Index?
How long will Flotek remain in the Russell Microcap® Index?
What are the benefits of Flotek joining the Russell Microcap® Index?
What is the stock symbol for Flotek?
