Shutterstock, Inc. was dropped from several prominent Russell indexes, including the Russell 3000 Growth Index, Russell 2000 Growth-Defensive Index, Russell Small Cap Comp Growth Index, Russell 2500 Growth Index, and Russell 3000E Growth Index. The company was also removed from the Russell 2000 Growth Index.
These removals are a result of the annual rebalancing of the Russell family of indexes. Inclusion or exclusion from these indexes is based on market capitalization and growth characteristics.
Being removed from these indexes can lead to adjustments in portfolios of index-tracking funds, potentially affecting the liquidity and trading dynamics of Shutterstock's stock.
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