By Chris Wack
SoundHound AI shares were up 11%, to $4.06, after the company said it was selected to be included in the Russell 2000 and broad-market Russell 3000 Indexes, effective after the U.S. market closed Friday.
The stock closed Friday’s session down 10%, but is up 30% in the past 12 months.
The inclusion came as part of the 2023 annual reconstitution of the Russell indexes.
Membership in the Russell 3000 Index means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index, as well as in the appropriate growth- and value-style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
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