BEVERLY HILLS, CA (CelebrityAccess) – LiveXLive Media, Inc. has been added to the small-cap Russell 2000® Index, the broad-market Russell 3000® Index and the Russell Microcap® Index effective at the open of trading today, marking the annual Russell US Indexes reconstitution.
Russell US Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes.
Speaking of the recent development, Chairman and CEO of LiveXLive Media, Rob Ellin said: “Our inclusion into two of the most widely followed benchmarks for small-cap and broader-market growth companies are a testament to the value we have created over the last 12 months since our transformative acquisition of Slacker Radio, successful underwritten public offering, NASDAQ listing and exponential growth with our festival streaming and content rights agreements.
“We believe our momentum in the market underscores our leadership in live music streaming and commitment to unifying music fans as the world’s first live social music network. Today’s addition into the Russell 2000® and 3000® Indexes represent another key milestone for LiveXLive as we look to expand our festival footprint across the globe, positioning LiveXLive as the live and original programming leader for music and pop culture,” he concluded.
For more information on the Russell 3000® Index and the Russell US Indexes reconstitution, you can go to the “Russell Reconstitution” section of the FTSE Russell website.