Trevena Inc (NASDAQ:TRVN) stock is under pressure in the pre-market session despite the good news. Will the stock rebound?
Major Trigger:
Trevena Added to Russell 2000®, Russell 3000®, and Russell Microcap® Indexes
Key Highlights:
- TRVN announced it has been added to the small-cap Russell 2000® Index, the broad-market Russell 3000® Index, and the Russell Microcap® Index, effective after the U.S. equity markets open today, Monday, June 28th, 2021.
- 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 US indexes.
Key Quote:
“Trevena’s inclusion in the Russell indexes reflects the significant value created from the approval and launch of OLINVYK, and broad advances across our pipeline,” said Carrie Bourdow, President and CEO of Trevena. “This will further increase the visibility of Trevena, broaden our shareholder base, and enhance liquidity in our stock. We intend to build upon this important step to continue building long term value for our shareholders.”
Market Reaction
As of 8:38, TRVN stock fell by 10.71% to $1.75. So far more than 395k shares have exchanged hands.
 Stock Sees Selling Pressure: Where is the Bottom?){kind=link}