ASXC - Is This Surgical Robotics Company a Cheap Buy Now?
On June 8, aspiring digital surgery company Asensus Surgical (NYSEMKT: ASXC) announced that its stock would be added to the Russell 2000 and Russell Microcap Indexes effective Monday, June 28.This announcement sent shares up 35% in June, compared with the S&P 500's 2% increase.
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The Russell Indexes are widely used within the institutional investor community as components of index funds and benchmarks for active investment strategies; approximately $10.6 trillion in assets are benchmarked against the Russell's U.S. indexes. So Asensus Surgical's addition prompted fund managers that track these indexes to add the stock to their portfolios, driving up the share price.
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Is This Surgical Robotics Company a Cheap Buy Now?