CHANDLER, Ariz.--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, today announced its inclusion in the Russell 2000® Index as part of the annual reconstitution of the Russell stock indexes. This inclusion was effective at the opening of U.S. equity markets on Monday, July 1, 2024, based on the preliminary list of additions posted on Friday, May 24, 2024.
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of Friday, June 28, 2024, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which lasts for one year, guarantees automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, along with the appropriate growth and value style indexes. FTSE Russell primarily determines index membership based on objective market-capitalization rankings and style attributes.
“We are pleased to join the Russell 2000® Index and believe our inclusion highlights our commitment to further scaling our business and growing our portfolio of persistent memory solutions,” said Sanjeev Aggarwal, President and Chief Executive Officer. “This achievement marks an important milestone for Everspin, and we are excited to share our story with a wider audience of investors, which we believe will further expand our shareholder base.”
For more than a decade, Everspin has been at the forefront of MRAM technology, providing advanced memory solutions for the most demanding applications worldwide. The company’s cutting-edge MRAM technology ensures exceptional data persistence, endurance, and reliability, serving a diverse range of top-tier customers in markets from data centers to edge devices.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.5 trillion in assets are benchmarked against Russell's U.S. indexes. FTSE Russell, a leading global index provider, administers these indexes.
For more information on the Russell 2000® Index and the Russell indexes reconstitution, please visit the “Russell Reconstitution” section on the FTSE Russell website.
About Everspin Technologies
Everspin Technologies, Inc. is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest performance non-volatile memory for Industrial IoT, Data Center, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com. NASDAQ: MRAM.
