MCLEAN, Va., June 09, 2022 (GLOBE NEWSWIRE) — NextNav, a leader in next generation GPS, announced today that it is has been selected to be included in the Russell 2000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 24, 2022.
“We are pleased to be included in the Russell 2000® index, a key milestone for our business since becoming a publicly traded company late last year,” said Christian Gates, NextNav Chief financial Officer. “Our inclusion in the index will not only help to broaden our visibility with the investment community but demonstrates our continued commitment to creating value for our shareholders as we build on the strong momentum we see in the adoption of our next generation GPS technologies.”
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.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 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
NextNav Inc. (Nasdaq: NN) is a leader in next generation GPS, enabling a whole new ecosystem of applications and services that rely upon vertical location and resilient geolocation technology. The company’s Pinnacle network delivers highly accurate vertical positioning to transform location services, reflecting the 3D world around us and supporting innovative, new capabilities. NextNav’s TerraPoiNT network delivers accurate, reliable, and resilient 3D positioning, navigation and timing (PNT) services to support critical infrastructure and other GPS-reliant systems in the absence or failure of GPS.
About FTSE Russell
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