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STOCKHOLM - Neonode Inc. (NASDAQ: NEON), a provider of advanced touch technology and optical sensing solutions with a market capitalization of $178 million, is set to join the Russell 2000 Index, effective after the U.S. market opens on June 30, as announced during the 2025 Russell indexes reconstitution. According to InvestingPro data, the company has demonstrated remarkable market performance with a 279% return over the past year. The company, which has been traded on the NASDAQ since 2012, will gain membership in the Russell 2000 for one year, which is contingent upon its inclusion in the broader Russell 3000® Index.
The Russell 2000 Index, a small-cap stock market index, is part of the Russell indexes, which are prominent benchmarks for institutional investors and are used extensively for index funds and active investment strategies. Neonode’s addition to the index will also see it automatically listed in the corresponding growth and value indexes. The company maintains strong financial health with a current ratio of 7.67, indicating robust liquidity, and holds more cash than debt on its balance sheet.
Daniel Alexus, President and CEO of Neonode, expressed optimism about the inclusion, noting it as a significant milestone for the company and anticipating increased visibility within the investment community. This move is seen as a positive step for Neonode as it continues to strive for innovation leadership and sustainable business growth.
FTSE Russell, the global index provider which manages the Russell indexes, determines membership based on objective market-capitalization rankings and style attributes. The Russell indexes, renowned for reflecting the evolving U.S. economy, are set to transition to a semi-annual reconstitution frequency starting in 2026, as stated by Fiona Bassett, CEO of FTSE Russell.
Approximately $10.6 trillion in assets were benchmarked against Russell US indexes as of June 2024. These indexes serve as a crucial tool for investors to track market performance and guide investment strategies.
The inclusion in the Russell 2000 Index is expected to enhance Neonode’s exposure to potential investors and could positively influence its stock’s liquidity. This news is based on a press release statement and is intended to provide factual information regarding Neonode’s upcoming inclusion in the Russell 2000 Index.
In other recent news, Neonode Inc. announced its financial results for the fiscal year ending December 31, 2024, as well as the first quarter ending March 31, 2025. The earnings releases, filed with the SEC, provide detailed insights into the company’s financial performance and are available for investor review. Additionally, Neonode has appointed Daniel Alexus as its new President and CEO, effective March 31, 2025, as part of its strategy to enhance profitability through strategic licensing of its technologies. The company also welcomed Didier Schreiber to its Board of Directors, while Cecilia Edström stepped down due to other commitments. Schreiber’s extensive experience in the automotive industry is expected to support Neonode’s growth ambitions. These developments mark a significant phase for Neonode as it focuses on leveraging its technological solutions and leadership to drive future success.
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