HyreCar Set to Join the Russell 3000→ Index
June 07 2021 - 9:00AM
Business Wire
HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for
ridesharing and food/package delivery services, is set to join the
broad-market Russell 3000→ Index at the conclusion of the 2021
Russell indexes annual reconstitution, effective after the US
market opens on June 28, according to a preliminary list of
additions posted June 4.
“We have worked hard to get to this point, taking the company
from concept to now joining the Russell 3000, something that we
believe will attract broader interest in Hyrecar from institutional
investors and investment funds,” said Joe Furnari, CEO. “I'm proud
of the tremendous progress we have made this year, both
operationally and driving top line growth that should continue as
we execute on our strategic plans in 2021.”
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 7, ranking them by total market capitalization.
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 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 $10.6 trillion in
assets are benchmarked against Russell’s US 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 HyreCar
HyreCar Inc. (NASDAQ: HYRE) is a nationwide leader operating a
carsharing marketplace for ridesharing in all 50 states and the
District of Columbia via its proprietary technology platform. The
Company has established a leading presence in Transportation as a
Service (TaaS) through individual vehicle owners, dealers and
OEM’s, who have been disrupted by automotive asset sharing. By
providing a unique opportunity through our safe, secure, and
reliable marketplace, HyreCar is transforming the industry by
empowering all to profit from TaaS. For more information please
visit hyrecar.com.
About FTSE Russell
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 $17.9
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen 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. For
more information, visit www.ftserussell.com.
Forward-Looking Statements
Statements in this release concerning HyreCar Inc.’s (“HyreCar”
or the “Company”) future expectations and plans, including, without
limitation, HyreCar’s future earnings, partnerships and technology
solutions, its ability to add and maintain additional car listings
on its platform from car dealers, and consumer demand for cars to
be used for ridesharing, may constitute forward-looking statements
for the purposes of the safe harbor provisions under the Private
Securities Litigation Reform Act of 1995 and other federal
securities laws and are subject to substantial risks, uncertainties
and assumptions. You should not place reliance on these
forward-looking statements, which include words such as “could,”
“believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,”
“continue,” “predict,” “potential,” “project” or similar terms,
variations of such terms or the negative of those terms. Although
the Company believes that the expectations reflected in the
forward-looking statements are reasonable, the Company cannot
guarantee such outcomes. HyreCar may not realize its expectations,
and its beliefs may not prove correct. Actual results may differ
materially from those indicated by these forward-looking statements
as a result of various important factors, including, without
limitation, market conditions and the factors described in the
section entitled “Risk Factors” in HyreCar’s most recent Annual
Report on Form 10-K and HyreCar’s other filings made with the U. S.
Securities and Exchange Commission. All such statements speak only
as of the date made. Consequently, forward-looking statements
should be regarded solely as HyreCar’s current plans, estimates,
and beliefs. Investors should not place undue reliance on
forward-looking statements. HyreCar cannot guarantee future
results, events, levels of activity, performance or achievements.
HyreCar does not undertake and specifically declines any obligation
to update, republish, or revise any forward-looking statements to
reflect new information, future events or circumstances or to
reflect the occurrences of unanticipated events, except as may be
required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210607005423/en/
Scott Brogi Chief Financial Officer scott@HyreCar.com
John Evans Investor Relations 415-309-0230
j.evans@HyreCar.com
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