Investment firm Plumas Bancorp and biotech company Lineage Cell Therapeutics have both been added to the Russell indexes, enhancing the liquidity of their respective stocks.
Plumas Bancorp has been added to the US small-cap Russell 2000 Index, effective July 1, 2024. The inclusion is part of the 2024 Russell indexes reconstitution, which adjusts the composition of the indexes to accurately represent the US equity markets. Membership in the Russell 2000 Index is based on membership in the broad-market Russell 3000 Index and remains in place for one year. Plumas Bancorp's stock has also been automatically included in the appropriate growth and value indexes. The addition to the Russell 2000 Index is expected to enhance the liquidity of Plumas Bancorp's stock, particularly due to passive investing trends. Plumas Bancorp is a bank holding company headquartered in Reno, Nevada, and Plumas Bank is its subsidiary. Plumas Bank is a locally managed community bank with 15 branch offices in Northeastern California and Northern Nevada. The inclusion in the Russell 2000 Index further solidifies Plumas Bancorp's position in the banking sector and highlights its growth and value potential.
Lineage Cell Therapeutics has been added to the Russell 3000 Index, effective July 1, 2024. This inclusion is part of FTSE Russell's annual reconstitution, which ranks the 4,000 largest US stocks by market cap. Membership in the Russell 3000 Index means automatic inclusion in either the Russell 1000 or Russell 2000 Index, as well as growth and value style indexes. The addition to the Russell 3000 Index is expected to heighten investor awareness, boost institutional ownership, and provide additional liquidity for Lineage Cell Therapeutics' stock. Lineage Cell Therapeutics is a biotech company based in Carlsbad, California. The inclusion in the Russell 3000 Index further solidifies Lineage Cell Therapeutics' position in the biotech sector and highlights its growth potential.
The addition of Plumas Bancorp and Lineage Cell Therapeutics to the Russell indexes is expected to enhance the liquidity of their stocks, making them more attractive to investors. The Russell indexes serve as benchmarks for trillions of dollars in assets, and inclusion in these indexes can increase visibility and exposure for the companies. This news reflects the growth and value potential of both Plumas Bancorp and Lineage Cell Therapeutics in their respective sectors.
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