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Nemaura Medical set to enjoy investor attention as it qualifies to join the Russell 2000 and Russell 3000 Indexes

CEO Faz Chowdhury said inclusion in the Russell indexes is an “important milestone” and will boost “overall awareness” of Nemaura stock

Nemaura Medical Inc - Nemaura Medical set to enjoy investor attention as it qualifies to join the Russell 2000 Index and Russell 3000 Index
From March 18 to June 4, the small-cap specific Russell 2000 Index has soared 50.3%, surpassing the performances of its three US large-cap centric major peers

Nemaura Medical Inc (NASDAQ:NMRD), the company behind the non-invasive continuous glucose monitor sugarBEAT, announced Tuesday that it is set to join the small-cap specific Russell 2000 Index and the broad-market Russell 3000 Index after the annual reconstitution of the Russell stock indexes which takes effect on June 29.

“Inclusion in the Russell Indexes is an important milestone and will increase the overall awareness and exposure of our stock within the investment community,” Nemaura Medical CEO Faz Chowdhury said in a statement.

“Broader exposure to the investment community comes at an ideal time for Nemaura as we move forward with product sales in the coming months and quarters,” he added.

READ: Nemaura Medical secures $5M loan to accelerate commercial strategy

The Loughborough, UK-based medtech company is eyeing explosive growth with SugarBEAT, which has already launched in the UK, and is actively looking at plans for commercialization across the rest of Europe.

Nemaura also recently announced plans for a 2020 US launch of proBEAT, a product designed to help users improve their knowledge of how a range of lifestyle, dietary and health and wellbeing factors impact their sugar levels by deploying sugarBEAT to act like a black box flight recorder.

The small-cap specific Russell 2000 Index has performed strongly over the past three months. The Russell 2000 recorded a low of 966.22 on March 18 after entering the coronavirus-led bear market on March 9. However, from March 18 to June 4, the index has soared 50.3%, surpassing the performances of its three US large-cap centric major peers — the Dow Jones Industrials Average, the S&P 500 and the Nasdaq Composite — which have gained around 40% during the same period.

The annual reconstitution of the broad-market Russell 3000 Index captures 3,000 of the largest US stocks, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 Index and the next 2,000 companies constitute the Russell 2000 Index, which together comprise the Russell 3000 Index.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Quick facts: Nemaura Medical Inc

Price: 5.76 USD

NASDAQ:NMRD
Market: NASDAQ
Market Cap: $131.82 m
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Full interview: Nemaura Medical reveals details of upcoming European launch...

Nemaura Medical Inc (NASDAQ:NMRD) Vice President of Strategy & Strategic Alliances Dr Fred Schaebsdau tells Proactive the medical technology company is targeting a commercial launch for its flagship SugarBEAT continuous glucose monitor in the UK and in Ireland in January 2020. Dr...

on 10/08/2019

2 min read