The move will take effect after the index’s annual reconstitution, which captures the 4,000 largest US stocks as of May 7 and ranks them by total market capitalization. Membership in the US all-cap Russell 3000 Index, which remains in place for one year, also 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, the company said.
"Forian's inclusion in the Russell 2000 marks another exciting milestone as a publicly traded company,” CEO Dan Barton said. “We are committed to our vision of bringing disruptive and innovative technology and analytic products to the healthcare and cannabis marketplaces."
READ: Forian reports major revenue bump in first quarterly results since Helix Technologies combination
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, and are widely used by investment managers and institutional investors.
Forian, based in Pennsylvania, has developed proprietary technology to pioneer the first and only integrated cannabis and healthcare informatics platform, the company said. Its platform enhances and improves the value and functionality of existing solutions while supporting the growth of innovative offerings for entities across healthcare and cannabis and those operating at the intersection of the two industries.
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