Quantum Joins Russell 2000®, Russell 3000® and Microcap® Indexes
SAN JOSE, Calif., June 29, 2020 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), a global leader and pioneer in video and unstructured data solutions, today announced it was added to the Russell 2000® Index, Russell 3000® Index and the Russell Microcap® Index when the indexes reconstituted on June 26, 2020.
Quantum Chairman and CEO Jamie Lerner says inclusion in the Russell 2000 and Russell Microcap Indexes is further validation of the significant progress the Company has made to turnaround the business. "These Indexes comprise the most recognizable listed companies and serve as a benchmark for the micro- and small-cap markets. Our inclusion speaks to the substantial advancements we have made over the past year and will increase our exposure to the investment community. This will facilitate our continuing path to growth and advance our vision and strategy as the leader in video and unstructured data solutions."
The world is using video and unstructured data more than ever, and this will only continue to grow. The COVID-19 pandemic is driving organizations in all industries to create more video data for marketing, training, internal communications, online learning curriculums, remote healthcare, and virtual and augmented reality applications, some of which are currently being developed on Quantum's StorNext NVMe storage today. In addition, use cases such as scientific and medical research, machine learning and AI, and IoT devices are generating vast amounts of unstructured data that must be processed, analyzed, protected and archived for many years. "These are massive pain points that require proven technology solutions to drive innovation," said Lerner. "I believe the ongoing and growing need to manage and archive massive amounts of video and unstructured data will continue to drive adoption and I'm excited about what is yet to come."
The new membership list for the Russell Indexes is available at https://www.ftserussell.com/files/support-document/2020-final-additions-r3000. The rebalanced Russell Global, Russell 1000®, Russell 2000, Russell 3000, Russell Midcap, and Russell Microcap Indexes will begin trading today, June 29, 2020.
Annual reconstitution of the Russell US Indexes captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the indexes, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Membership in the Russell 3000® Index also means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell indexes are widely used by investment managers and institutional investors for passive funds and investment products and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell's suite of index offerings.
Quantum technology and services help customers capture, create and share digital content – and preserve and protect it for decades. With solutions built for every stage of the data lifecycle, Quantum's platforms provide the fastest performance for high-resolution video, images, and industrial IoT. That's why the world's leading entertainment companies, sports franchises, researchers, government agencies, enterprises, and cloud providers are making the world happier, safer, and smarter on Quantum. See how at www.quantum.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Quantum and the Quantum logo are registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.
This press release contains "forward-looking" statements. Quantum advises caution in reliance on forward-looking statements. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Quantum Corporation and its consolidated subsidiaries ("Quantum") may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements regarding the progress the Company has made to turnaround its business and the expectation that being added to the Russell 2000 and Russell Microcap Indexes will increase the Company's exposure amongst the investment community. Risks, uncertainties and assumptions include public health requirements in response to the outbreak of COVID-19 and the impact on the Company's business and operations, which is evolving and beyond the Company's control; members of the Company's management team or a significant number of its global employee base becoming ill with COVID-19; changes in government regulations and mandates to address COVID-19 that may adversely impact Quantum's ability to continue to operate without disruption; a significant decline in global macroeconomic conditions that have an adverse impact on the Company's business and financial results; challenges to the Company's infrastructure because of the number of employees working from remote locations, a cyberattack or other issues associated with remote connectivity; business interruptions related to the Company's supply chain; the Company's ability to manage its business and expenses if customers cancel or delay orders; the Company's ability to meet its debt covenants; and other risks that are described herein, including but not limited to the items discussed in "Risk Factors" in Quantum's filings with the Securities and Exchange Commission, including its Form 10-K filed with the Securities and Exchange Committee on June 24, 2020. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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SOURCE Quantum Corp.
Released June 29, 2020