PowerFleet Joins Russell 3000® Index
June 29 2020 - 8:00AM
PowerFleet, Inc. (Nasdaq:
PWFL), a global leader and provider of
subscription-based wireless IoT and M2M solutions for securing,
controlling, tracking, and managing high-value enterprise assets,
was added to the broad-market Russell 3000® Index at the conclusion
of the annual reconstitution of the Russell indexes, effective
after the U.S. market opens today, June 29, according to the FTSE
Russell website.
Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 8, 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
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.
“Joining the Russell 3000 Index represents another important
milestone for PowerFleet that we expect will increase awareness of
our accomplishments,” said CEO Chris Wolfe. “This follows several
other achievements for our company, including the successful merger
and integration with Pointer Telocation, which has established
PowerFleet as a leading global IoT telematics software and
solutions provider. We hope to leverage this additional exposure
within the investment community into improved liquidity and greater
awareness for PowerFleet, which should positively impact both new
and existing investors going forward.” Russell indexes are widely
used by investment managers and institutional investors for index
funds and as benchmarks for active investment strategies.
Approximately $9 trillion in assets are benchmarked against
Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About PowerFleet PowerFleet®, Inc. (NASDAQ:
PWFL; TASE: PWFL) is a global leader and provider of
subscription-based wireless IoT and M2M solutions for securing,
controlling, tracking, and managing high-value enterprise assets
such as industrial trucks, tractor trailers, containers, cargo, and
vehicles and truck fleets. The company is headquartered in
Woodcliff Lake, New Jersey, with offices located around the globe.
PowerFleet’s patented technologies address the needs of
organizations to monitor and analyze their assets to increase
efficiency and productivity, reduce costs, and improve
profitability. Our offerings are sold under the global brands
PowerFleet, Pointer, and Cellocator. For more information, please
visit www.powerfleet.com, the content of which does not form a
part of this press release.
PowerFleet Company Contact Ned Mavrommatis,
CFO NMavrommatis@powerfleet.com (201) 996-9000
PowerFleet Investor Contact Matt Glover
Gateway Investor Relations PWFL@gatewayIR.com (949) 574-3860
PowerFleet (NASDAQ:PWFL)
Historical Stock Chart
From Aug 2024 to Sep 2024
PowerFleet (NASDAQ:PWFL)
Historical Stock Chart
From Sep 2023 to Sep 2024