What happened Shares of HyreCar Inc. (NASDAQ: HYRE), a car-sharing marketplace that allows car owners to rent their idle vehicles to ridesharing drivers, jumped nearly 15% higher Monday morning after the company announced it would join the broad-market Russell 3000 Index. So what The plan is for HyreCar to join the index at the conclusion of the 2021 Russell Indexes annual reconstitution, which takes place after market open on June 28. "I'm proud of the tremendous progress we have made this year, both operationally and driving top line growth that should continue as we execute on our strategic plans in 2021," said CEO Joe Furnari in a press release. Image Source: Getty Images. Now what While HyreCar's addition to the Russell 3000 Index is a positive move for the company and will attract broader interest from institutional investors as well as investment funds, the long-term success of the stock will be based on its growth. The company needs to continue increasing revenue, bring new drivers to its platform, increase rental days, and cut down on cost per booking. HyreCar stock is up nearly 600% over the past year, but its potential long-term growth makes the company an intriguing stock within the automotive industry. 10 stocks we like better than HyreCar Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and HyreCar Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of May 11, 2021 Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source