Marti Technologies' Inclusion in the S&P Global Broad Market Index: A Catalyst for Long-Term Equity Outperformance

The inclusion of Marti Technologies, Inc. (NYSE American: MRT) in the S&P Global Broad Market Index (BMI) on September 22, 2025, marks a pivotal moment for the company and its investors. As a leading mobility super app in Türkiye, Marti operates a fleet of e-mopeds, e-bikes, and e-scooters, addressing the growing demand for sustainable urban transportationMarti Technologies Added to S&P Global Broad Market Index (BMI)^[1]. With a market capitalization of $0.18 billion at the time of inclusionMARTI TECH INC Market Cap 2022-2024 | MRT - Macrotrends^[5], Marti's addition to the BMI—a comprehensive index covering over 14,000 companies across developed and emerging marketsS&P Global BMI performance 2024^[3]—signals its alignment with global standards in market depth, liquidity, and business sustainability. This strategic milestone is not merely symbolic; it is a catalyst for long-term equity outperformance, as historical data and sectoral trends suggest.

Index Inclusion as a Strategic Catalyst

Index inclusion often acts as a self-fulfilling prophecy. When a company is added to a widely followed benchmark like the S&P Global BMI, it gains immediate visibility among index-tracking investors, including passive funds and institutional portfolios. This influx of capital can enhance liquidity and reduce bid-ask spreads, creating a more efficient market for the stockStudy the Performance of Global Size Benchmarks^[2]. For Marti, this means broader access to global investors who may have previously overlooked the company due to its niche sector or geographic focus.

Historical evidence supports this dynamic. A 2024 study by S&P Global found that smaller-cap companies, like Marti, have historically outperformed larger-cap peers over extended periods. Between 1994 and 2021, the S&P Global SmallCap index outperformed the LargeCap index in 52.7% of months, while the MidCap index did so in 51.6% of monthsS&P Global BMI performance 2024^[3]. Over 15-year horizons, the outperformance was even more pronounced, despite higher volatility in smaller-cap indices. Marti, with its $0.18 billion market cap, falls squarely within this category, positioning it to benefit from the same long-term trends.

Case Studies: The BMI Inclusion Effect

While direct data on post-BMI inclusion performance is limited, case studies of other companies added to the index provide instructive parallels. For instance, KE Holdings Inc. saw its stock price rise following its 2025 BMI inclusion, as the move expanded its reach to institutional investors and improved liquidityMarti Technologies Added to S&P Global Broad Market Index (BMI)^[1]. Similarly, Diginex Limited's inclusion in the BMI was linked to a broader shareholder base and enhanced market perception, even as the company navigated operational challengesStudy the Performance of Global Size Benchmarks^[2]. These examples underscore how index inclusion can act as a reputational and financial catalyst, even in the absence of immediate operational changes.

Marti's CEO, Oguz Alper Oktem, has emphasized that the BMI inclusion aligns with the company's strategy to scale its ride-hailing operations and capture Türkiye's long-term mobility market opportunityMartı Technologies Added to S&P Global Broad Market Index^[4]. With Türkiye's urban population projected to grow and demand for micro-mobility solutions rising, Marti's business model is well-positioned to capitalize on structural trends. The BMI inclusion, therefore, is not just a validation of Marti's current operations but also a signal to investors of its potential to scale.

Risks and Considerations

Of course, the path to outperformance is not without risks. Smaller-cap stocks, by their nature, exhibit higher volatility, and Marti's sector—mobility and technology—is subject to regulatory shifts, technological disruption, and macroeconomic cycles. For example, Lightbridge Corporation's BMI inclusion did not mitigate its core risks, such as unprofitability and capital intensityStudy the Performance of Global Size Benchmarks^[2]. Investors must weigh these factors against Marti's strengths, including its first-mover advantage in Türkiye's mobility market and its alignment with global sustainability goals.

Conclusion: A Long-Term Investment Thesis

Marti Technologies' inclusion in the S&P Global BMI is a strategic milestone that enhances its visibility, liquidity, and access to capital. Historical data on smaller-cap outperformance and case studies of similar companies suggest that this inclusion could serve as a catalyst for long-term equity gains. While risks remain, the alignment of Marti's business model with global trends in urban mobility and sustainability strengthens its investment case. For investors seeking exposure to high-growth, emerging-market opportunities, Marti's BMI inclusion represents a compelling inflection point.