Paysign, Inc. (NASDAQ: PAYS) noticed its stock nose up Thursday. The company, a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing, today announced it expects to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the U.S. market opens on June 26, based upon the preliminary list of additions announced by FTSE Russell on May 19.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Paysign’s CEO Mark Newcomer stated, "We are thrilled to see our organization included in the preliminary list for the 2023 annual reconstitution of the Russell 3000 Index. This milestone is a testament to the hard work and dedication of our exceptional team at Paysign. It reflects our successful strategic vision and our unwavering commitment to offering innovative payment solutions to our customers. We remain steadfast in our dedication to driving sustainable growth and maximizing shareholder value."
PAYS shares acquired two cents to $2.67.
