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Who's In? Who's Out. Another Look at No-Short List
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Several companies with large operations in the financial services sector are looking to be added to the government's list of stocks that cannot be sold short.
The list, which includes nearly 800 stocks temporarily banned from short selling, was clearly put together in a rush and includes several stocks that are not in the financial services sector - such as a Nigerian aviation company - as well as some that are no longer trading.
The move by the Securities and Exchange Commission came one day after the UK Financial Services Authority took a similar step, and is expected to remain in effect until Oct. 2, unless extened.
Birinyi Associates came up with a list of 25 financial stocks that it noticed were left off the ban list, including American Express [AXP
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], Capital One [COF
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], and CIT Group [CIT
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]. (To see Birinyi's full list, click here.)
General Electric [GS
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], which derives nearly half its profit from its financial services sector, is expected to be added to the list, CNBC has learned. GE is the parent of CNBC and CNBC.com.
Both American Express is looking into the possibility of being added to the list, and CIT has asked to be added to the list.
The Short-Selling Debate:
Data is a real-time snapshot *Data is delayed at least 15 minutes
