Clever Leaves Holdings Inc. (Nasdaq: CLVR) (“Clever Leaves” or the “Company”), a multinational operator, or MNO, and licensed producer of pharmaceutical-grade cannabinoids, announced that it is set to join the Russell Microcap® Index, effective at market open in the United States on June 28, 2021, upon the conclusion of the Russell indexes’ annual reconstitution. The decision was first disclosed in a preliminary list of additions published by the FTSE Russell on June 4, 2021.
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 marks an important milestone for Clever Leaves as we receive recognition from one of the most prominent index providers followed by investment managers across the globe,” said Kyle Detwiler, CEO of Clever Leaves. “Inclusion in the index will strengthen our existing foundation of institutional ownership, benefitting our shareholders with improvements in liquidity and visibility. We look forward to making further progress on our strategic objectives to create additional value for our shareholders in the months ahead.”
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 Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
