Li-Cycle Holdings Corp. added to Russell 2000® Index
by CM Staff
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
TORONTO — Li-Cycle Holdings Corp., a company involved in lithium-ion battery resource recovery and the a lithium-ion battery recycler in North America, announced on Jun. 27 that as part of the 2022 Russell indexes annual reconstitution, the Company has been added to the small-cap Russell 2000® Index and the broad-market Russell 3000® Index, effective after the U.S. market opens on June 27, 2022.
“As we continue to execute on our Spoke & Hub network strategy, which provides localized sustainable solutions for the battery materials supply chain to support the growth for electric vehicles, we look forward to expanding our reach within the investment community,” said Ajay Kochhar, Li-Cycle co-founder and Chief Executive Officer. “We are excited to have been selected for inclusion in the Russell 2000® Index, another meaningful market milestone for Li-Cycle since becoming publicly listed in August 2021.”
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 6, 2022 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 the 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 $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. Additional information on the Russell 2000® Index, Russell 3000® Index and the Russell indexes reconstitution can be found on the “Russell Reconstitution” section of the FTSE Russell website.