Rover Set to join Russell 3000® and Russell 2000® Indexes
Rover Group, Inc. (NASDAQ: ROVR) will be added to the Russell 3000®, Russell 2000®, and Russell Microcap® Indices after June 27, 2022. This marks a significant milestone for the company, enhancing its visibility among institutional investors and asset managers, as these indices cover a vast market worth approximately $12 trillion. The reconstitution, based on market capitalization, underscores Rover's growth since its public debut. CEO Aaron Easterly expressed confidence that this inclusion will aid in expanding partnerships and connecting with pet lovers more effectively.
- Inclusion in the Russell 3000, Russell 2000, and Russell Microcap indices, enhancing visibility.
- Potential increase in institutional investment interest due to index inclusion.
- Recognition of growth since becoming a public company.
- None.
SEATTLE, June 22, 2022 (GLOBE NEWSWIRE) -- Rover Group, Inc. (“Rover”) (NASDAQ: ROVR), the world’s largest online marketplace for pet care, is set to join the broad-market Russell 3000® Index, the small-cap Russell 2000® Index, and the Russell Microcap® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, according to the list of additions posted June 17.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 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.
“We are honored to earn a spot in the Russell indexes following our debut as a public company last year,” said Rover co-founder and CEO, Aaron Easterly. “As we pursue our mission of making it easier for everyone to experience the unconditional love of a pet, we are confident our inclusion in the Russell indexes will increase our exposure to partners and animal lovers as well as institutional investors who use these indexes in the creation and tracking of their portfolios.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
For more information on the Russell 3000® Index, the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Rover:
Founded in 2011 and based in Seattle, Rover (Nasdaq: ROVR) is the world’s largest online marketplace for pet care. Rover connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, and drop-in visits. To learn more about Rover, please visit https://www.rover.com.
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 including, but not limited to, Rover’s expected inclusion in the Russell indexes and the expected resulting exposure to partners, animal lovers and investors. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. The words “set,” “believe,” “may,” “might,” “possible,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” ”should,” “expect,” “target,” “contemplate,” “predict,” “project,” “plan,” “potential,” “continue,” “preliminary,” “likely,” “ongoing,” or similar expressions and the negatives of those terms are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and assumptions that may cause actual events, results, or performance to differ materially from those indicated by such statements. Certain of these risks are identified in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Rover’s SEC filings, including, but not limited to, Rover’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed on May 12, 2022. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Rover’s other recent filings with the SEC which are available, free of charge, on the SEC’s website at www.sec.gov. Forward-looking statements are based on then-current expectations, estimates, forecasts, and projections and the beliefs and assumptions of management. Investors are cautioned not to place undue reliance on these statements, and reported results should not be considered as an indication of future performance. If the risks or uncertainties ever materialize or the assumptions prove incorrect, Rover’s results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date they are made. Except as required by law, Rover assumes no obligation and does not intend to update any forward-looking statements or to conform these statements to actual results or changes in Rover’s expectations.
The information that can be accessed through hyperlinks or website addresses included herein is deemed not to be incorporated in or part of this press release.
Contacts:
MEDIA
pr@rover.com
Kristin Sandberg
(360) 510-6365
INVESTORS
walter.ruddy@rover.com
Walter Ruddy
(206) 715-2369
FAQ
What is the significance of Rover Group's inclusion in the Russell 3000 index for ROVR investors?
When will Rover Group officially join the Russell 2000 index?
How does Rover Group's inclusion in Russell indices affect its market exposure?
What are the total assets benchmarked against the Russell indices?
Who is the CEO of Rover Group and what is his view on the index inclusion?
