Russell 3000 Index To Add Facebook

Facebook’s May 18 initial public offering has resulted in the social network being added to the preliminary list to join the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies.

Reuters reported that Facebook would be the largest addition to the index in terms of market capitalization.

The companies included in the Russell 3000 Index represent approximately 98 percent of the investable U.S. equity market, and Reuters reported that the combined capitalization of stocks in the index will drop to $15.8 trillion as of May 31, 2012, compared with $16.7 trillion on that same date in 2011.

Related Stories
Mediabistro Course

Podcasting

PodcastingLearn to develop, create, and launch your own podcast! On October 23, Steve Belaner, the host of the weekly podcast The Gamut, will teach you how to determine the goals of your podcast, perfect your concept, contact and book guests, market your podcast, and get your show up and running in just a few weeks. Register now!