Financial Times FT.com

CVS is added to ban list on short selling

By Joanna Chung, Anuj Gangahar, Julie MacIntosh and Jonathan Birchall in New York

Published: September 25 2008 19:54 | Last updated: September 25 2008 19:54

Shares in CVS Caremark were on Thursday temporarily excluded from short selling as the US drugstore company became one of the latest to join a restricted stock list that has expanded to include non-financial firms.

Many companies have been asking to be included on the list of “financial” firms protected from traders seeking to profit from share price declines, saying they meet the broad criteria set out by the US Securities and Exchange Commission, which issued an emergency order last week.

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