Allbirds, Inc. will join the broad-market Russell 3000 Index after the 2022 Russell indexes annual reconstitution, effective after the U.S. market opens on June 27.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 6, 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, including the appropriate growth and value style indexes.
FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Allbirds’ inclusion in the Russell indexes so soon after the completion of our November 2021 IPO is an important step in our public company journey. We believe this recognition will allow us to broaden our reach within the investment community further as we continue to focus on building long-term shareholder value,” said Joey Zwillinger, co-founder and co-CEO, Allbirds.
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 U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
