Why TrueCar (TRUE) Stock Is Up Today

NEW YORK (TheStreet) -- TrueCar (TRUE) was gaining 5.7% to $14.05 Monday after being selected to join the Russell 2000 and Russell 3000 Indexes.

The car buy and selling platform was added to the indexes after Russell Investments annual reconstitution of its U.S> and global equity indexes on June 27.

"We believe that our inclusion on the Russell indices will enable us to increase our visibility and broaden our reach among key institutional investors, as we aggressively work towards transforming the car-buying experience for consumers and dealers," TrueCar CEO Scott Painter said in a statement.

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TRUE Chart

TRUE data by YCharts

"TrueCar, Inc. (TrueCar) is a data-driven online platform operating a technology infrastructure, powered by data and analytics. The Company operates its company-branded platform on its TrueCar.com Website. In addition, it customizes and operates its platform for affinity group marketing partners, such as USAA and Consumer Reports, financial institutions, and other enterprises, such as Boeing and Verizon. Its network of approximately 7,700 TrueCar Certified Dealers consists of new car franchises, representing makes of cars, as well as independent dealers. TrueCar Certified Dealers operate in all 50 states and the District of Columbia. It presents market data to consumers, including information about pricing for specific makes and models of cars in their area. Consumers interface with it through its TrueCar.com and affinity group marketing partner Websites."

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

4 Strong Tech Stocks to Own During This Volatile Stock Market

4 Strong Tech Stocks to Own During This Volatile Stock Market

Roku, Nucana and Other IPOs That Should Be on Your Radar in 2017

Roku, Nucana and Other IPOs That Should Be on Your Radar in 2017

These Stocks Have Changed Direction

These Stocks Have Changed Direction

Murdochs Get European Approval for Sky Deal Despite Sexual Claims Against O'Reilly

Murdochs Get European Approval for Sky Deal Despite Sexual Claims Against O'Reilly

At Least 33 Companies Have Pulled Ads From 'The O'Reilly Factor' in Wake of Sexual Harassment Claims

At Least 33 Companies Have Pulled Ads From 'The O'Reilly Factor' in Wake of Sexual Harassment Claims