One In Five Russell 3000 Additions Went Public Via SPAC: What Investors Should Know

One of the biggest events for investors last week was the new additions to the Russell 3000 Index. The inclusion in the index means several ETFs have to add shares of the stocks as part of the rebalancing efforts.

What Happened: There was a large number of additions to the Russell 3000 Index on Friday and one particular item that stood out was how SPACs affected the rebalancing.

One in five companies that were added to the Russell 3000 on Friday went public via SPAC merger.

The Former SPACs: Here is a look at the companies that went public via SPAC and were added to the Russell 3000 Index.

Aeva Technologies Inc AEVA: lidar company

Appharvest Inc APPH: indoor sustainable farming company

Beauty Health Co SKIN: owner of HydraFacial, non-invasive skincare treatment

Butterfly Network Inc BFLY: portable ultrasound company

Carlotz Inc LOTZ: used vehicle consignment seller

ChargePoint Holdings Inc CHPT: electric vehicle charging infrastructure company

Clarivate PLC CLVT: information service and analytics company that serves scientific research companies

Danimer Scientific Inc DNMR: a next-generation bioplastics company

Desktop Metal Inc DM: 3D printing company focused on several business segments

Digital Media Solutions Inc DMS: digital marketing company in the media segment

Draftkings Inc DKNG: one of the largest online sports betting operators

E2open Parent Holdings Inc ETWO: end-to-end supply chain management company

Eos Energy Enterprises Inc EOSE: battery storage solutions company

Curiositystream Inc CURI: a streaming company focused on documentaries

Finance of America Companies Inc FOA: a financial company focused on home loans, commercial loans, student loans and reverse mortgages

Fisker Inc FSR: electric vehicle startup led by Henrik Fisker

Golden Nugget Online Gaming Inc GNOG: online gaming company with sports betting and online casino in several states

Hall of Fame Resort & Entertainment Co HOFV: sports, media and entertainment company focused on the NFL and the Hall of Fame property in Ohio

Hyliion Holdings Corp HYLN: electrified powertrain solutions for commercial vehicles

Landsea Homes Corp LSEA: homebuilding company

Lordstown Motors Corp RIDE: electric vehicle company working to bring the Lordstown Endurance pickup truck to market

Metromile Inc MILE: digital insurance company with a pay-per-mile approach

MP Materials Corp MP: rare earth mining company

Nikola Corporation NKLA: focused on hydrogen-powered vehicles

Open Lending Corp LPRO: automated lending to the financial sector

Ouster Inc OUST: lidar company

Paya Holdings Inc PAYA: integrated payment solutions

Paysafe Ltd PSFE: payment solutions and digital wallet company

PLBY Group Inc PLBY: consumer products and licensing company with the well-known Playboy brand

Porch Group Inc PRCH: software platforms and services for the home service industry

PureCycle Technologies PCT: solvent-based purification recycling technology

Quantumscape Corp QS: working on solid-state batteries for the electric vehicle market

Romeo Power Inc RMO: working on lithium-ion batteries for the electric vehicle market

Rush Street Interactive Inc RSI: online sports betting and online casino operator in several states

Shift Technologies Inc SFT: e-commerce based used car sales

Skillz Inc SKLZ: person-to-person wagering for mobile games

Stem Inc STEM: artificial intelligence-based energy storage solutions

Tattooed Chef Inc TTCF: plant-based foods sold direct-to-consumer and in retail stores

Utz Brands Inc UTZ: salty snack food manufacturer

UWM Holdings Corp UWMC: residential mortgage and wholesale mortgage lender

Velodyne Lidar Inc VLDR: lidar company

Whole Earth Brands Inc FREE: manufacturers zero/low sugar and calorie sweeteners

XL Fleet Corp XL: fleet electrification for the commercial vehicle market.

DeSpac ETF: The recently launched De-SPAC ETF DSPC holds a weighting of 25 of the largest former SPACs over the trailing 12-month period.

The ETF has stakes in many of the companies added to the Russell 3000 Index inclusion and could be a way for investors to play the rebalancing.

Related Link: 10 SPACs And Former SPACs That Could Be Short Squeeze Candidates: Clover, Nikola And More

Disclosure: Author is long CHPT, FSR, HOFV and RMO.

Posted In: M&ANewsPenny StocksSmall CapIPOsTrading IdeasDe-Spacelectric vehicleslidaronline sports bettingRussell 3000 IndexSPACSPACs