Up or Down from Here? Outlook Therapeutics Inc (NASDAQ:OTLK)

Outlook Therapeutics Inc (NASDAQ:OTLK) is trading with higher in the pre market session on Wednesday. The stock is up 25% over the past month and 97% year-to-date.

Major Trigger:

Outlook Therapeutics Announces Inclusion in the Russell 2000® Index

Key Highlights:

  • announced that as part of the annual reconstitution of the Russell stock indexes, Outlook Therapeutics has been selected to be added to the Russell 2000® Index effective June 25, 2021, after the close of the U.S. equity markets. said Prof. C.H.J. van Eijck.
  • The Russell 2000® Index measures the performance of the small-cap segment of the US equity market. The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.
  • Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s U.S. indexes which are part of FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.

Key Quote:

“We are very pleased to have been selected for inclusion in the Russell 2000® Index. Our placement in this widely used performance benchmark for small-cap companies reflects the hard work of the Outlook Therapeutics team and the value we have created over the past year. With our inclusion in the Russell 2000® we believe we are well-positioned to continue driving value with this increased market exposure,” said Lawrence A. Kenyon, President, CEO and CFO, Outlook Therapeutics.

Market Reaction

As of 8:25, OTLK is trading at $2.68, up 3.08%. So far more than 17K shares have exchanged hands.

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