Russell 2000 Is Bound to Lose AMC Entertainment, GameStop

This month’s overhaul of the Russell 2000 Index may prove costly for the gauge of smaller U.S. companies. The two biggest contributors to the measure’s 15% surge for the year through Thursday were AMC Entertainment Holdings Inc. and GameStop Corp. -- standouts among so-called meme stocks. Both are poised for transfers out of the gauge and into the Russell 1000 Index of larger companies on June 28, when FTSE Russell completes an annual reconstitution of U.S. indexes. The shift would reflect the companies’ market value: $26.4 billion for AMC and $19.2 billion for GameStop as of Thursday.