Bidz.com to join stock index
June 18, 2008
Culver City, Calif.—Online jewelry auctioneer Bidz.com will join the Russell 3000 Index after the close of the market on June 27, the company announced on Tuesday.
The Russell 3000 Index is market-cap weighted and measures the performance of the largest 3,000 common stocks incorporated in the United States and its territories.
The index is intended to provide a comprehensive barometer of the broad market, and is reconstituted once a year to capture new and growing equities. The latest reconstitution is set for June 27.
According to Bidz.com, the Russell 3000 Index included it on a preliminary membership list released on June 13. Final membership lists for the Russell 3000 Index and other Russell indices will be posted on June 30.
"The addition of Bidz.com to the Russell 3000 Index represents another milestone in our company's short 10-year history,"
Bidz.com Chief Executive Officer David Zinberg said in a media release. "Inclusion in this well-known index will serve to further expand the investment community's awareness of our achievements as we continue to grow and enhance shareholder value."
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