MicroVision to be Added to Russell 2000 Index
June 10 2021 - 8:30AM
MicroVision, Inc. (NASDAQ: MVIS), a leader in MEMS based solid
state automotive lidar and micro-display technology for augmented
reality, today announced that it is set to join the Russell 2000
Index at the conclusion of the 2021 Russell indexes annual
reconstitution, effective after the US market opens on June 28,
according to a preliminary list of additions posted June 4.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 7, 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 extremely pleased that MicroVision is set to join the
Russell 2000 Index,” said Sumit Sharma, Chief Executive Officer of
MicroVision. “Joining this index is a reflection of the progress we
have made this year in developing our technology, building a strong
balance sheet and increasing shareholder value.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in
assets are benchmarked against Russell’s US indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 2000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About MicroVision
MicroVision is the creator of innovative MEMS scanning
technology and solutions based on the laser beam scanning
methodology pioneered by the Company. The Company combines its
hardware, software, and algorithms to unlock value for its
customers by providing them a differentiated advanced solution for
rapidly evolving lidar sensor, augmented reality, interactive
display and consumer lidar markets.
For more information, visit the Company’s website at
www.microvision.com, on Facebook at
www.facebook.com/microvisioninc or follow MicroVision on
Twitter at @MicroVision.
MicroVision is a trademark of MicroVision, Inc. in the United
States and other countries. All other trademarks are the properties
of their respective owners.
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 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $17.9
trillion is currently benchmarked to FTSE Russell indexes. 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.
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
Certain statements contained in this release, including those
related to the Company’s joining the Russell 2000 Index, execution
on strategy, product applications and building value for
shareholders are forward-looking statements that involve a number
of risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from
those projected in such forward-looking statements include the risk
that the Company may not succeed in finding licensing or other
strategic solutions, including a potential sale of the Company,
with acceptable timing, benefits or costs; its ability to operate
with limited cash or to raise additional capital when needed;
market acceptance of its technologies and products or for products
incorporating its technologies; the failure of its commercial
partners to perform as expected under its agreements, including
from the impact of COVID-19 (coronavirus); its ability to identify
parties interested in paying any amounts or amounts that the
Company deems desirable for the purchase or license of intellectual
property assets; its or its customers’ failure to perform under
open purchase orders; its financial and technical resources
relative to those of its competitors; its ability to keep up with
rapid technological change; government regulation of its
technologies; its ability to enforce its intellectual property
rights and protect its proprietary technologies; the ability to
obtain additional contract awards and develop partnership
opportunities; the timing of commercial product launches and delays
in product development; the ability to achieve key technical
milestones in key products; dependence on third parties to develop,
manufacture, sell and market its products; potential product
liability claims; its ability to maintain its listing on The Nasdaq
Stock Market, and other risk factors identified from time to time
in the Company's SEC reports, including the Company's Annual Report
on Form 10-K filed with the SEC. These factors are not intended to
represent a complete list of the general or specific factors that
may affect the Company. It should be recognized that other factors,
including general economic factors and business strategies, may be
significant, now or in the future, and the factors set forth in
this release may affect the Company to a greater extent than
indicated. Except as expressly required by federal securities laws,
the Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, changes in circumstances or any other
reason.
Investor Relations Contact
David H. AllenDarrow Associates,
Inc.408.427.4463dallen@darrowir.com
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