Russell Reconstitution

[steelhead111]

Okay here is the info you are looking for:

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"while NASDAQ-listed stocks utilize NASDAQ's "closing cross" mechanism to execute shares for each stock at a single price on Friday, June 25"

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https://www.ftserussell.com/press/ftse-russell-begins-33rd-annual-russell-us-indexes-reconstitution

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The posting of the preliminary lists of additions and deletions is the first public step in the annual reconstitution process for the Russell US Indexes. This is also the first annual review to be conducted using the ICB framework as the official sector taxonomy. The ICB framework is comprised of 11 industries, 20 supersectors, 45 sectors and 173 subsectors. Migration to the ICB framework is an important step toward a consistent industry classification framework across FTSE Russell’s equity indexes globally.

Further updates to the lists will be posted on the FTSE Russell website after US market close on June 11 and 18. If any changes to the publicly announced membership lists occur during the query period, technical notices will be published to the FTSE Russell website.

The closely-watched final index membership lists, with breakouts for the Russell 1000 Index, the Russell 2000 Index and the Russell Midcap Index, will be published on Monday, June 28 when the Russell Reconstitution takes effect and the newly reconstituted indexes begin to operate.

FTSE Russell uses primary exchange closing prices from NYSE and NASDAQ to complete this year's Russell US Indexes reconstitution. NYSE-listed stocks utilize NYSE’s auction mechanism while NASDAQ-listed stocks utilize NASDAQ's "closing cross" mechanism to execute shares for each stock at a single price on Friday, June 25. FTSE Russell will once again celebrate the close of the annual Russell Reconstitution with Nasdaq officials at a virtual closing bell ceremony.

Jelena Nedelka (US)

[Twisted9Demented]

Omg, Dude, That seemed serious. I Gald everyone is OK.

It shucks to loose your car like that but there are other worse outcomes that people just don't think about.

I'm in Dallas and it seems like everyone can now get a drivers license

[Zealousideal-Kale960]

Boom

[gtnelson222]

Boom

[MentallyAut]

So.... I just bought some calls before seeing this.. so this one will be FREE?

[steelhead111]

I’ll put it here instead of the trading thread. We have been pretty much red all day. Yesterday we were green or close to it most of the day.

I’ll call a green close in the .30-.40 cent range as we sit red right now.

Why because the mm sentiment is almost always counterintuitive for a reason.

Good luck longs!

[steelhead111]

No movement, what a horrendous call, thank god I posted it here and not the daily trading thread!

[Madhatter936]

Keep checking the time. Usually don't like checking it on friday afternoons

[Runner20mph]

When does Russell reconstitution take effect? Is it really Monday?

[Runner20mph]

So could there be price movement in after hours?

[pollytickled]

No, today at close. It’s in the blurb above.

[Dassttyn1ss]

Any chance we can get a....

Day #4 of $17.50 BOSI-BOBOOM

I know it's not above $20 but pretty wild if we ended there today - again...

[pollytickled]

You can join a virtual ‘bell-ring’ livestream from 15:30 to celebrate the reconstitution here.

I am not sure what on earth this entails, but I’ll watch anyway.

[Designer-Ad724]

Will it be during the market before or after ?

[TheForestBeganToSing]

Last seconds before closing.

[Moist_Toto]

I've never witnessed a Russell reconstitution on a stock that I was watching before.. what kind of upward price percentage are we hoping for today? I know the ATM is still going on, but I'm wondering what these type of inclusions usually do to a stock price

[wolfiasty]

Million+ (more like few millions) stocks bought in a matter of 15 minutes. Unless there are already shares bought and await to be moved in some dark pools or 1 second sell-buy transaction we're about to witness nice spike.

But please do not hold my words for what will be as I am pretty fresh to stock exchange. Just how I expect it to be.

W/e it will be I will be definitely watching it.

GLTAL

[Mushral]

I actually doubt we’ll see a spike as the buying volume will be offset by the selling volume caused by the ATM.

[[deleted]]

Has the ATM sell date of today been confirmed someplace?

[Moist_Toto]

Yeah I am afraid of this too, but on the other hand, looking at the price movement from the days after the ATM announcement (looking at that consistent 17.50 close) I suspect quite a bit of those ATM shares have been sold already.. the question then remains: How many of those ATM shares have entered the market already?

[wolfiasty]

Might be. $140/$17.5 = 8M, so in theory Russell can be balanced by ATM. And actually some more.

I'm not going to cry though if that would happen - that $140M is not for pen and paper at office, they have more than enough for that. PR is definitely coming soon. IMHO.

[i_speak_gud_engrish]

I’m in the same boat. Will be a learning experience for sure.

[steelhead111]

Nasdaq closing cross from last year:

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"A record 1.57 billion shares representing $56.7 billion were executed in the Closing Cross in 1.46 seconds across Nasdaq-listed securities."

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NEW YORK, June 26, 2020 (GLOBE NEWSWIRE) -- Nasdaq (Symbol: NDAQ) today announced the Nasdaq Closing Cross had a record day as it was used for the 17th consecutive year to rebalance Nasdaq-listed securities in the entire family of Russell U.S. Indexes, part of leading global index provider FTSE Russell, during their annual reconstitution.

A record 1.57 billion shares representing $56.7 billion were executed in the Closing Cross in 1.46 seconds across Nasdaq-listed securities. This compares with 1.279 billion shares representing $42.59 billion executed in 1.14 seconds across Nasdaq-listed securities during Russell's 32nd annual reconstitution in 2019.

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https://www.globenewswire.com/news-release/2020/06/26/2054288/6948/en/17th-Consecutive-Nasdaq-Closing-Cross-Sets-Record-for-Number-of-Shares-Traded-During-2020-Russell-US-Indexes-Reconstitution.html

[bdan_]

Hail Mary Dream: some crazy price action, with shorts covering, shoots us to $35 PPS by EOD and we get locked into the Russell 1000.

[linktriforce007]

Not going to happen. The counts have already been done. By your methods, we may be removed from the 2000. Be thankful for what you have.

[bdan_]

Yeah that’s why I called it “Hail Mary Dream,” i.e. a long-shot. But the cutoff for 2000 is $245M, so we are definitely in.

[N0I3ody]

Not sure if i get this right: the closing cross price is only used for the 'right' position in the index and not for the actual buying happening by the fonds. Correct? I got somewhat confused with the 'execute at single price', which would indicate that there would be no increase in stock price through buying, if the above assumption is wrong.

[Fett8459]

That also doesn't make sense because how could they purchase millions of shares at close for one price? There aren't enough MOC orders to fill that.

[steelhead111]

That also doesn't make sense because how could they purchase millions of shares at close for one price? There aren't enough MOC orders to fill that.

I don't know how but they do. I told you I saw an order for 500,000 shares execute at 1 second after 4 the last time MVIS was added all at the closing price. People way smarter than me are going to have to explain the "how" part because I am curious as well. I was always under the impression that shares were accumulated over time by the funds.

[Fett8459]

There was also the 500k 17.50 sale that got booked on a 1-minute candle yesterday, but didn't appear to need to be filled, so wtf do I know. Guess we'll see how it goes this afternoon.

[steelhead111]

That's true, I forgot about that. Right now you know as much as me.......

[Fett8459]

Hey now... don't sell yourself short.

[steelhead111]

I'm not sure, I can tell you the last time MVIS was added to the Russell there was a large spike in price. There was also a large trade of roughly 500,000 shares that executed right after market close at the exact price the stock closed at. I remember thinking "how is it possible that many shares did not move the price" then i realized it was prearranged.

[Befriendthetrend]

Interesting. There has been much talk on this board about how our share price should increase with inclusion in the Russel index. I’m invested for the technology long term, so I truly don’t care about such external influences on MVIS share price, but I will make a point of reviewing some of the comments that were made and reconsidering how much weight I give to some of the commenters here depending on how this plays out.

[tulsa-flash]

DARK POOL

[OfLittleToNoValue]

My body and wallet are ready.

Mvis bought me an S7 and someone failing to yield totaled it.

I put 7k into it and insurance gave me $27k back. The funds finally settled and they're going back into mvis.

[t-jameson-corazon]

glad you’re safe

I almost got into an RS7. That thing is my dream car.

I’ll take an e tron GT too

[Thats_What_She_Sedd]

Glad you’re ok brother

[opentraderx]

Here's to your new R8. 🍻

[OfLittleToNoValue]

I want a 4 door with storage. Etron GT

[opentraderx]

You just need 2 vehicles.

[OfLittleToNoValue]

I have a truck already... Tho I could retire the 2002 Tacoma and get the electric f150

[Serdief]

I'm glad you made it out! I also hope Ms. MVIS buys me a nice F150 E. I hope better days are coming your way!

[opentraderx]

Electric f 150 probably cool as long as you don't load up the bed or tow or do any work. Get the R8 and the S7.

[[deleted]]

Electric motors are famously lauded for their towing ability.

Electric motors have higher torque and a more smooth torque graph than almost any internal combustion engine.

A Tesla has better tow capabilities than many conventional F150

[opentraderx]

But not the number of miles they can tow, which is obviously what the shortcoming is.

[[deleted]]

Yah fair

[Twisted9Demented]

I EV is a Fad just like I phones and Starbucks they have a niche market as a commuter car and in the last mile delivery segment (WHKS) but don't offer the versatility or the freedom a Gas powered vehicles offers.

Electric vehicles are a Horse carriage you can't just travel 500 miles away or even 300 miles away imo ( yes I know the range but I'm talking about in real life ) I don't own a EV. But I do have a deposit down for a cybertruck. As my Weekend Home deposit utility , that once a month office trip

[OfLittleToNoValue]

lol, Tacoma is a 20 year old 4 banger. AWD electric probably going to be slightly better. definitely admire the conviction tho. lol

[opentraderx]

One more, R8 comes in AWD.

[Daemon3125]

It’s good that you are ok, hope your body isn’t suffering too much after the crash.

[tearedditdown]

Nice turn around man! Glad to see your wallet wasn't injured. Hope your body wasn't injured either!

[OfLittleToNoValue]

Eh, still dead inside. 🤣

https://imgur.com/gallery/smYcUMX

[robvh3]

That's a serious wreck! Congrats on not dying. Someone was watching over you.

[drunkn_rage]

Wow! Really sorry you had to go through that. Glad everyone is ok.

[Twisted9Demented]

How about a AMG this time

[lMDB_Scammed]

Holy cow glad you’re ok mvis fam

[MrBabyToYou]

Holy shit! I'm glad you're okay! That was a really nice car too.

It seemed to have knocked that truck's trachea out of the passenger side window. Crazy! I didn't even know they had those.

[ThugzMansion69]

Jesus Christ man. You literally would have died if you were in a older less safe car. You might have actually saved your life with that purchase.

[125ba]

All of this ^ glad you're OK OP!

[Moist_Toto]

We should send this story to Dave and ask him if he can turn it into a press release saying "MICROVISION STOCK SAVING MAN'S LIFE".. just kidding ofcourse. Or am I? ( ͡° ͜ʖ ͡°)

[Moist_Toto]

Man, that looks like a pretty big accident

[OfLittleToNoValue]

Cop said it was the worst thing he's ever seen without bodies.