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MIAMI – SKYX Platforms Corp. (NASDAQ: SKYX), a technology firm specializing in smart home platforms with a current market capitalization of $138.61 million, is poised to be included in the Russell 2000® and Russell 3000® indexes, as per a preliminary list released by FTSE Russell on May 23, 2025. The official entry of the company into these indexes is scheduled for when the U.S. market opens on June 27, 2025. According to InvestingPro data, the stock has shown significant momentum with a 26% gain over the past six months, despite recent volatility.
The annual reconstitution of the Russell indexes involves ranking the 3,000 largest U.S. public companies by total market capitalization. Inclusion in the Russell 3000® Index triggers automatic membership in one of its subsets, the large-cap Russell 1000® or the small-cap Russell 2000®, along with applicable growth and value style indexes. Market-cap rankings and style attributes are key determinants of index membership, as per FTSE Russell’s methodology.
Co-CEO of SKYX, Lenny Sokolow, expressed enthusiasm about the company’s progress and its strategic vision’s alignment with the criteria for inclusion in the Russell indexes. He anticipates that this development will enhance investor awareness and potentially increase institutional ownership, aligning with the company’s growth trajectory and its mission to make homes and buildings safer and smarter. Recent financial data from InvestingPro shows the company achieving 12.4% revenue growth, though analysts note profitability remains a key focus area. InvestingPro subscribers can access 8 additional key insights about SKYX’s financial health and growth prospects.
Russell indexes are integral to investment managers and institutional investors for creating index funds and conducting performance benchmarking. FTSE Russell, which maintains the indexes, notes that approximately $10.6 trillion in assets are benchmarked against its U.S. indexes.
SKYX Platforms Corp. boasts a portfolio of over 60 lighting and home decor websites and holds more than 97 U.S. and global patents and patent pending applications. The company’s technology aims to elevate safety and lifestyle standards in homes and buildings through its innovative smart platform technologies. With analyst price targets ranging from $2 to $5, significantly above the current trading price of $1.34, detailed analysis and comprehensive valuation metrics are available in the SKYX Pro Research Report, one of 1,400+ deep-dive reports available exclusively on InvestingPro.
This inclusion in the Russell indexes is a testament to SKYX’s market capitalization and its potential influence in the smart home technology sector. The information for this article is based on a press release statement from SKYX Platforms Corp.
In other recent news, SKYX Platforms Corp. reported its Q1 2025 earnings, revealing a mixed financial performance. The company met its earnings per share (EPS) forecast of -$0.09 but fell short on revenue, reporting $20.1 million against an expected $21.15 million. Despite this, the revenue represented a 6% year-over-year increase. SKYX Platforms is actively expanding its product line, focusing on smart home technologies, and is working towards achieving cash flow positivity by the second half of 2025. Additionally, SKYX has joined forces with SG Holdings to develop a $3 billion mixed-use smart city in Miami’s Little River District, integrating advanced technology in over 5,700 residential units and 350,000 square feet of commercial space. The company plans to provide over 500,000 units of its smart home technologies for this project. Meanwhile, SKYX’s strategic partnerships, including a manufacturing deal with Profab Electronics, are expected to bolster its market position. The company continues to focus on product innovation and strategic growth, aiming to expand its presence in U.S. and Canadian homes.
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