That study is not timely, chose a flawed time frame, or the reporter didn't know how to handle the data as presented.
I'm not 100% sure, but I think the Ninny 19 stocks all increased in price from July 16th to today. Their market caps increased (assuming there were not more share issuances since July 18th on any of them, which is certainly not a sure thing).
So that kind of makes the whole story -- old news.
...The study examined the 19 stocks covered by emergency order, comparing their performance before and after the order took effect. It also compared results for the 19 shares against 59 U.S. and 73 non-U.S. financial companies that weren't subject to the emergency order.
Shares covered by the order lost 3.8% of their value compared with their peers' stock between July 21 and Aug. 4, the study concluded, or roughly $60 billion...
Here's XLF as a proxy for the 19 - July 16th to today inclusive - static chart.
This chart runs from July 15th forward to December 31, 2008 and will build
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