Diamond Hill Opts Out of SEC List of "Protected" Firms!!
If I am understanding this NASDAQ announcement correctly, it is the coolest thing I have heard in a while. Apparently
NASDAQ issuer Diamond Hill Investment Group, Inc. (DHIL) has voluntarily opted-out of NASDAQ’s list of Covered Securities under the SEC’s Emergency Order. Diamond Hill Investment Group, Inc. will not be subject to the restrictions of the Emergency Order.
If this announcement is legit, I bet it won’t last. After all, the other relatively safe firms could take themselves off the list, so that the remaining ones look unsafe. This defeats the whole (ostensible) purpose of the SEC ban. So I think they are going to say DHIL isn’t allowed to invite short selling of its stock. If people can’t decide whether to use heroin, they obviously can’t be trusted to decide whether to take the SEC’s offer of a ban on short selling.
(HT2 Tim Swanson.)
