Intellicheck (Nasdaq: IDN), an industry leader in identification authentication solutions, today announced that the Company is set to join the broad-market Russell 3000 and Russell 2000 Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the U.S. stock market opens on June 29, 2020, based on a preliminary list of additions, which is subject to change, made public on June 5, 2020.
Intellicheck CEO Bryan Lewis says inclusion in the Russell 3000 and Russell 2000 Index is further validation of the progress the Company has made. “We believe that inclusion in these indexes speaks to the substantial progress we have made over the past year. This latest milestone further validates our invigorated strategic approach that has driven product adoption across multiple market verticals.”
Lewis noted he expects the demand for the company’s innovative technology solutions to continue to rise. “Identity theft and fraud continue at a record pace that has been further magnified by the pandemic. It is a massive pain point with costly repercussions. I believe the ongoing and growing need for proven technology solutions will continue to drive adoption and I couldn’t be more excited about what is yet to come.”
Annual Russell U.S. Indexes reconstitution captures the 4,000 largest US stocks as of May 11, ranking them by total market capitalization. Membership in the 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 U.S. Indexes primarily by objective, market-capitalization rankings and style attributes.
Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds 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, a leading global index provider.
Intellicheck’s real-time authentication technology solutions have proven more than 99% effective in stopping identity theft and fraud and prevent underage access to age-restricted venues and products including alcohol, cannabis, vaping and traditional tobacco products in brick-and-mortar and mobile settings. The company’s state-of-the-art technology solutions protect many of the nation’s financial services companies as well as credit card issuers, payment providers, more than 23,000 retail locations representing the most prominent national and community-based retail brands, restaurants, automotive dealers, health care providers, law enforcement agencies and members of the U.S. military.
About FTSE Russell
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Intellicheck (Nasdaq: IDN) is a trusted industry leader in technology solutions that stop identity theft and fraud with real-time identification authentication and age verification. We make it possible for our clients to increase revenues, improve customer service, and increase operational efficiencies. The company is focused on partnering with banks, credit card issuers and retailers to prevent fraud. Intellicheck also serves law enforcement agencies, national defense clients and diverse state and federal government agencies.