Business
GrowGeneration Set to Join Russell 3000® Index
DENVER, CO, June 11, 2020 /PRNewswire/ - GrowGeneration Corp. (NASDAQ:GRWG), ("GrowGen" or the "Company"), the largest chain of stand-alone specialty
About this update from Growgeneration Corp.
[{"type":"text","content":"DENVER, CO, June 11, 2020 /PRNewswire/ - GrowGeneration Corp. (NASDAQ:GRWG), (\"GrowGen\" or the \"Company\"), the largest chain of stand-alone specialty hydroponic and organic garden centers, currently with 27 locations, announced today it is set to join the broad-market Russell 3000® Index. GrowGeneration's inclusion in the Russell 3000® Index will take place at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the US market opens on June 29, according to a preliminary list of additions posted June 5.\n\n \n \n \n \n \n \n\n \nAnnual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, 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. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.\nDarren Lampert, CEO of GrowGeneration Corp., stated, \"The inclusion in the Russell 3000 is a major corporate milestone and reflects the continued growth of our Company. GrowGen continues to focus on expanding the number of our hydroponic garden centers, while increasing revenue and gross profit. We believe our Russell 3000 listing will increase long-term shareholder value by improving awareness, liquidity and appeal to institutional investors.\"\nRussell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.\nFor more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the \"Russell Reconstitution\" section on the FTSE Russell website.\nAbout GrowGeneration Corp.:\nGrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 27 stores, which include 5 locations in Colorado, 5 locations in California, 2 locations in Nevada, 1 location in Washington, 4 locations in Michigan, 1 location in Rhode Island, 4 locations in Oklahoma, 1 location in Oregon, 3 loc...