Quantum Joins Russell 2000, Russell 3000 and Microcap Indexes
Quantum Corporation, a global leader and pioneer in video and unstructured data solutions, today announced it was added to the Russell 2000 Index, Russell 3000 Index and the Russell Microcap Index when the indexes reconstituted on June 26, 2020.
Quantum Chairman and CEO Jamie Lerner says inclusion in the Russell 2000 and Russell Microcap Indexes is further validation of the significant progress the Company has made to turnaround the business. “These Indexes comprise the most recognizable listed companies and serve as a benchmark for the micro- and small-cap markets. Our inclusion speaks to the substantial advancements we have made over the past year and will increase our exposure to the investment community. This will facilitate our continuing path to growth and advance our vision and strategy as the leader in video and unstructured data solutions.”
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The world is using video and unstructured data more than ever, and this will only continue to grow. The COVID-19 pandemic is driving organizations in all industries to create more video data for marketing, training, internal communications, online learning curriculums, remote healthcare, and virtual and augmented reality applications, some of which are currently being developed on Quantum’s StorNext NVMe storage today. In addition, use cases such as scientific and medical research, machine learning and AI, and IoT devices are generating vast amounts of unstructured data that must be processed, analyzed, protected and archived for many years. “These are massive pain points that require proven technology solutions to drive innovation,” said Lerner. “I believe the ongoing and growing need to manage and archive massive amounts of video and unstructured data will continue to drive adoption and I’m excited about what is yet to come.”
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Annual reconstitution of the Russell US Indexes captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the indexes, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Membership in the Russell 3000 Index also means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell indexes are widely used by investment managers and institutional investors for passive funds and investment products and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell’s suite of index offerings.
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