Avid Bioservices Inc (CDMO)

[cjgaddy]

The 2017 Russell/3000 Rank Day was 5-12-17. DONE.
If you don’t have the MktCap ($125mm or whatever this year) or meet $1+ on MAY 12 2017, you don’t make it into the Add/Delete list for 6-27-17 activation. PERIOD. It doesn’t matter if on May 15th a company shoots up to $500mm mktCap or solves their $1 min. problem – they do not get then ADDED to the May 12th list – it’s frozen, except for “style & stability” issues – see below.
What happens AFTER MAY 12th doesn’t matter re: the 2017 Russell/3000 reshuffle (and that includes us solving the $1 problem after May 12).

If I’m wrong about this let me know and I’ll correct, but I don’t think I am.

May 12 2017 = “Rank Day” – Russell US Index membership eligibility for 2017 reconstitution determined from constituent market capitalization at market close.
...Rank date, the date used to determine Russell US Index membership, usually in late May, will be on Friday, May 12 to facilitate the scheduled June alignment of shares outstanding & free float across the FTSE & Russell indexes. Fundamental data used to determine index constituent characteristics such as style & stability will still continue to be based on May month-end data.
http://www.ftserussell.com/files/press-releases/ftse-russell-announces-schedule-annual-russell-us-index-reconstitution