CINCINNATI, June 29, 2020 /PRNewswire/ -- Workhorse Group
Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an
American technology company focused on providing sustainable and
cost-effective electric vehicles to the last mile delivery sector,
was added to the broad-market Russell 3000® Index at the conclusion
of the annual reconstitution of the Russell indexes, effective
after the U.S. market opens today, June
29, according to the FTSE Russell website.
Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 8, ranking them
by total market capitalization. Membership in the U.S. 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.
"Our inclusion into the Russell 3000 Index represents another
milestone for Workhorse as a public company in a year where we
expect to make additional landmark achievements in the electric
vehicle industry," said Company CEO Duane
Hughes. "The Russell Indexes are a widely known and
well-respected benchmarking standard. We appreciate being a part of
this select group and will look to leverage this platform to
generate further interest and awareness in our business within the
investment community and beyond."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 trillion in assets are benchmarked against
Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing electric
vehicles to the last-mile delivery sector. As an American original
equipment manufacturer, we design and build high performance,
battery-electric vehicles including trucks and aircraft. Workhorse
also develops cloud-based, real-time telematics performance
monitoring systems that are fully integrated with our vehicles and
enable fleet operators to optimize energy and route efficiency. All
Workhorse vehicles are designed to make the movement of people and
goods more efficient and less harmful to the environment. For
additional information visit workhorse.com.
About FTSE Russell
FTSE Russell is a leading global
index provider creating and managing a wide range of indexes, data
and analytic solutions to meet client needs across asset classes,
style and strategies. Covering 98% of the investable market, FTSE
Russell indexes offer a true picture of global markets, combined
with the specialist knowledge gained from developing local
benchmarks around the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$16 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 investment funds, ETFs, structured products and index-based
derivatives. FTSE Russell indexes also provide clients with tools
for asset allocation, investment strategy analysis and risk
management.
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 index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com.
Forward-Looking Statements
This press
release includes forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These statements may be
identified by words such as "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements are subject
to risks and uncertainties, which could cause actual results to
differ materially from the forward-looking statements contained
herein. Factors that could cause actual results to differ
materially include, but are not limited to: our limited operations
and need to expand in the near future to fulfill product orders;
risks associated with obtaining orders and executing upon such
orders; the ability to protect our intellectual property; the
potential lack of market acceptance of our products; potential
competition; our inability to retain key members of our management
team; our inability to raise additional capital to fund our
operations and business plan; our inability to satisfy covenants in
our financing agreements; our inability to maintain our listing of
our securities on the Nasdaq Capital Market; our inability to
satisfy our customer warranty claims; our ability to continue as a
going concern; our liquidity and other risks and uncertainties and
other factors discussed from time to time in our filings with the
Securities and Exchange Commission ("SEC"), including our annual
report on Form 10-K filed with the SEC. Workhorse expressly
disclaims any obligation to publicly update any forward-looking
statements contained herein, whether as a result of new
information, future events or otherwise, except as required by
law.
Media Contact:
Mike Dektas
Creative
Storm PR
513-266-3590
mike@creativestorm.com
Workhorse Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor
Relations
949-574-3860
WKHS@gatewayir.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/workhorse-joins-russell-3000-index-301084869.html
SOURCE Workhorse Group Inc.