Food & Beverage

BurgerFi joins Russel Microcap Index

Provided

June 21, 2021

BurgerFi International Inc., which FastCasual recently named as the top brand on its 2021 Fast Casual Top 100 Movers & Shakers list, is joining the Russell Microcap Index after the U.S. market opens June 28.

The brand, as Food Truck Operator reported, launched its first food truck at the recent Food Network and Cooking Channel South Beach Wine & Food Festival in Miami/

Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization, according to a company press release.

Membership, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russel, a British provider of stock market indices and associated data services, determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

"Joining the Russell Microcap Index marks another significant step forward in our growth trajectory," Ophir Sternberg, BurgerFi executive chairman, said in the release. "We've made significant strides in the last six months since successfully going public, which was made possible by the commitment of our company and franchise brand partners.

"With our new leadership team in place, we believe we are poised to capitalize on the true potential of this brand and to scale this business to new heights. We look forward to further engaging with the investment community as we leverage the increased awareness that the Russell Microcap Index brings to introduce our growth strategy to a far-reaching audience."

BurgerFi named Julio Ramirez as CEO last year

Investment managers and institutional investors use Russell indexes as benchmarks for active investment strategies. Nearly $10.6 trillion in assets are benchmarked against Russell's US indexes, according to the release.

Established in 2011, BurgerFi has 120 restaurants domestically and internationally.