Comstock Mining Inc (NYSEAMERICAN:LODE) is trading within a narrow range on Monday. The stock has been witnessing a nice uptrend since mid-march with a jump of 40% in 3-week. Will the Rally continue?
Major Trigger:
Comstock Set to Join Russell Microcap® Index
Key Highlights:
- LODEannounced today that it is set to join the Russell Microcap Index at the conclusion of the 2021 Russell Microcap Index’s annual reconstitution, effective after the US market opens on June 28, 2021, according to the preliminary list of additions posted June 4, 2021.
- Membership in the Russell Microcap® Index means automatic inclusion in the appropriate growth and value indexes. FTSE Russell determines membership for its indices primarily by objective, market-capitalization rankings and style attributes.
- Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
Key Quote from Executive Chairman and CEO
Mr. Corrado De Gasperis, Comstock’s Executive Chairman and CEO stated, “The inclusion in the Russell Microcap Index recognizes our value growth and positions our capital base for the next phase of our growth. Our leadership in innovation and the sustainable extraction, valorization, and production of clean, renewable natural resources continues to gain recognition, including now with Russell, and we and our shareholders are grateful for this new association.”
Market Reaction: Stock Range Bound
As of 10:48, LODE stock moved down by 0.25% to $4.28 with more than 819K shares traded hands, compared to its average volume of 1.53 million shares. The stock has moved within a range of $4.1600 – 4.4700 after opening the trade at $4.47.
