Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of health and wellness company XpresSpa (NASDAQ: XSPA) are rising on Wednesday following the announcement that it is set to join the Russell Microcap Index after the 2021 Russell indexes annual reconstitution.
The listing will become effective on June 28.
Membership in the Russell Microcap Index remains in place for one year and means automatic inclusion in the appropriate growth and value style indexes.
Doug Satzman, CEO of XpresSpa Group, said: “We view inclusion in the Russell Microcap Index is an important company milestone that should broaden our exposure within the trading community while providing us with a meaningful opportunity to reach those who might be new to our Company and interested in holding our stock. This is especially true for those who use the Russell indexes to benchmark their portfolios.”
XpresSpa's share price is up 11.49% premarket at $1.65.
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