Survey Results: Ending Blackout Periods


1. Which factor is most important in allowing a blackout period to end one day after an earnings release: (select only one)
Answer Responses Percent
Filer status being large accelerated filer and a WKSI 9 18.0%
Number of analysts providing coverage on company 10 20.0%
Average daily trading volume for the company 9 18.0%
None of the above is important 22 44.0%

2. How many analysts covering the company is considered sufficient to allow blackout period to end one day after an earnings release: (select only one)
Answer Responses Percent
1-5 3 6.1%
6-10 12 24.5%
11-15 4 8.2%
16 or more 2 4.1%
None of the above is important 28 57.1%

3. What average daily trading volume is considered sufficient to allow blackout period to end one day after an earnings release: (select only one)
Answer Responses Percent
1% of its outstanding common stock 8 16.7%
$5 million or more in average daily trading volume (daily trading volume x stock price) 2 4.2%
$10 million or more in average daily trading volume (daily trading volume x stock price) 3 6.3%
$25 million or more in average daily trading volume (daily trading volume x stock price) 5 10.4%
None of the above is important

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