Ultralife Corporation Announces Addition to the Russell 2000® Index
Rhea-AI Summary
Ultralife Corporation (NASDAQ: ULBI) has been included in the Russell 2000® Index, effective June 29, 2020. This significant milestone underscores Ultralife's potential for enhanced visibility and growth within the investment community. The Russell 2000® Index serves as a critical benchmark for small-cap companies, with approximately $9 trillion in assets benchmarked against the indexes. Ultralife focuses on power solutions and communications systems, catering to various global markets, including government and defense sectors.
Positive
- Inclusion in the Russell 2000® Index enhances visibility and credibility among investors.
- Access to a larger pool of institutional and retail investors due to the index inclusion.
Negative
- None.
News Market Reaction – ULBI
In the trading session that priced this news, ULBI gained 5.71%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEWARK, N.Y., June 29, 2020 (GLOBE NEWSWIRE) -- Ultralife Corporation (NASDAQ: ULBI) today announced it has been added to the Russell 2000® Index as part of the 2020 Russell U.S. Indexes annual reconstitution, effective as the U.S. market opens today.
“Our inclusion in the Russell 2000® Index, one of the most widely used performance benchmarks for small-cap companies, is an important milestone for Ultralife. We welcome the enhanced visibility within the investment community of our long-term, leveraged earnings growth prospects,” said Michael D. Popielec, President and Chief Executive Officer.
Russell U.S. indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
About Ultralife Corporation
Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.
Headquartered in Newark, New York, the Company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions used extensively by institutional and retail investors globally. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have used FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, and index-based products.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
| Company Contact: | Investor Relations Contact: |
| Ultralife Corporation | LHA |
| Philip A. Fain | Jody Burfening |
| (315) 210-6110 | (212) 838-3777 |
| pfain@ulbi.com | jburfening@lhai.com |