Pareteum Corporation (NASDAQ: TEUM) is slated to join the Russell 3000 Index at the conclusion of the Russell U.S. Indexes annual reconstitution after the market opens July 1.
Shares of the cloud communications platform company were trading up 10.85 percent at $2.86 at the time of publication Monday.
The Russell 3000 Index is a capitalization-weighted stock market index maintained by FTSE Russell that seeks to benchmark the entire U.S stock market.
"Inclusion in the Russell 3000 Index is a reflection of the strong customer growth, execution and financial performance that has characterized Pareteum during the past year," CEO Hal Turner said in a statement.
"This uplift from last year's inclusion in the Russell Microcap Index to the Russell 3000 will further expand awareness of Pareteum among institutional investors and for all of our stakeholders," added Turner.
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