AXTI is being highlighted as a Russell 2000 add, with an estimated 7.3 million shares (~$509M) to be bought for the reconstitution. Yesterday, Northland issued a bullish note that raised numbers above consensus after AXTI’s CEO reported more China Optical wins, reinforcing the case for index-driven demand and improved fundamentals.
Author @markflowchatter is targeting AXTI for a Russell index addition, noting an expected buy of 7.3 million shares (~$509 million) tied to its Russell 2000 inclusion.
one of the long list of Russells I'm cherry picking $AXTI -
seeing 7.3M shares or $509M to BUY for their addition to the 2000 addition.
YESTERDAY - Northland had a big (+ve) note out taking #s way above consensus, comments from the CEO winning more China Optical deals