At least Diamond Hill isn’t afraid of short sellers (UPDATED)

Via NASDAQ Regulatory Alert #2008-022:

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, effective today, September 22, 2008. Diamond Hill Investment Group, Inc. will not be subject to the restrictions of the Emergency Order.

DHIL either has nothing to be afraid of from short sellers, or they are happy to pick up their own shares at a cheaper price. Nevertheless, shares of DHIL were up $0.75 (or 0.81%) as of the time of this post. How were their competitors faring? All I see is red (market caps and volume notwithstanding) …


(h/t CR)

UPDATE: The NYSE not so bold: GM, GE added to list. By the time the short selling ban’s first expiration date hits, every company traded will have a new financial services subsidiary that makes them eligible.