Faraday Future Announces Inclusion in Russell 3000® and Russell Microcap® Indexes
Membership in the Russell 3000® Index, which remains in place for one year, means Faraday Future is also eligible for inclusion in either the Russell 1000® Index or Russell 2000® Index, and in this case additionally included in the Russell Microcap® Index, reflecting the Company's market capitalization positioning. These widely followed benchmarks are used by investment managers and institutional investors for index funds and as performance benchmarks, and inclusion can potentially increase investor awareness and broaden the shareholder base.
'We are honored to be included in both the Russell 3000 and Russell Microcap Indexes,' said Jerry Wang, Global President of Faraday Future. 'This inclusion highlights the momentum we are building in the intelligent electric vehicle sector and underscores our commitment to delivering innovative mobility solutions that redefine premium while affordable user experiences via Faraday Future and Faraday X - our unique dual branding strategy.'
The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the 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 Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $18.1 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.
About FTSE Russell, an LSEG Business
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
ABOUT FARADAY FUTURE
Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The new FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/us/
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