missed out last year as market cap was too low. The min market cap last year was $130M. CLCT now $200M. June 13 is the preliminary day of new entries. Getting kicked out last year saw 600K+ shares sold. 600K+ shares for being added back in plus 655K shorts can push this over $30.
Are there funds buying in now in anticipation of their entry into the indexes? If the min requirement last year was $130M and the market is up 30%, then anything over $170M will gain them entry. That means any stock price over $20.
to be precise, Russell 200 is up a little less than 18% from end of May to now. With a $130M valuation needed last year, this years entry will need less than $160M. That puts CLCT at just under $19 to gain entry.
googling "Russell rebalance frontrunning" brought me to a plethora of articles on companies that basically start playing these companies on the boundaries of being added in. This is a huge industry in itself. This coupled with 655K shorts can really move this up. A good earnings report next month could literally be like pouring gasoline on a fire. May 30 is the day used to rebalance.