Maxeon Solar Technologies Announces its Addition to the Russell 2000® Index

Source: www.gulfoilandgas.com 6/20/2023, Location: North America

Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation and channels, today announced that the Company has been added as a member of the small-cap Russell 2000® Index and the broad-market Russell 3000® Index. The annual reconstitution will be final after the close of market on Friday, June 23, 2023, and will become effective Monday, June 26, 2023, at the open of the equity markets. This rebalancing process is designed to capture market shifts from the previous year to ensure the Russell U.S. Indexes continue to accurately reflect the US equity market. A preliminary list of index additions, including Maxeon, was posted by FTSE Russell on May 19, 2023.

Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization. The Russell 3000® Index serves as the U.S. component to the Russell Global Index. 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 equity indexes primarily by objective, market-capitalization rankings and style attributes.

"We are proud to be included in the U.S. Russell 2000® Index, and see this as an opportunity for Maxeon to gain visibility among investors," said Bill Mulligan, Maxeon's CEO. "This recognition is a testament to Maxeon's strong fundamentals and business performance, and further underscores our role as a market leader in the solar industry. We intend to continue to execute our strategic priorities to deliver value for our stakeholders, and remain committed to deliver the best solar technologies for Powering Positive Change."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.


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