Robot Rings the NASDAQ Bell for the First Time
A robotic arm has rung the NASDAQ closing bell to honor the launch of ROBO-STOX™ Global Robotics and Automation Index (Bloomberg: ROBO/ROBOTR), the first benchmark index dedicated to this burgeoning industry. "The growing affordability of robotic productivity gains, coupled with expanding technological capabilities, have moved this sector beyond the 'tipping point,' and the adoption of related technologies across multiple industries should continue to accelerate," said Rob Wilson, CEO of ROBO-STOX. "By introducing the first comprehensive and focused measure of the value of robotics, automation and related technologies, we are giving investors the world's first benchmark by which to track the growing field of robotics."
NASDAQ:ROBO is a new Exchange Traded Fund ETF, launched on October 23 at a price of $25. First day volume was over 225,000 shares. The new ETF uses a specially formulated index which attempts to reflect the global robotics industry. The index is comprised of 77 companies - 38% domestic; 62% international - in the rapidly developing global robotics and automation industry, with operations in over 15 different countries around the world and listings on multiple foreign and domestic exchanges.
Since pure-play robotics companies are extremely rare, ROBO-STOX evaluates companies across industries, objectives, geographic locations and market capitalizations to find innovative firms that can fuel productivity and economic growth for years to come. The composite includes a mixture of “bellwether” stocks (securities of companies that the ROBO-STOX Index Committee believes reflect the performance of robotics and automation firms as a whole) and “non-bellwether” stocks (securities of robotics- and automation-related companies the Index Committee believes will generate higher revenue as their products and services grow). The Index is rebalanced on a quarterly basis, and is usually weighted 40 percent toward bellwether stocks and 60 percent toward non-bellwether stocks. Companies can be deleted from the Index at any time at ROBO-STOX’s discretion.