[daniel-levin]

Hi Eric, presumably the companies will trade on a limit order book, like other exchanges. This mechanism of price formation allows rapid price movements up or down. What’s to stop the speculators or retail investor hordes from piling into a stock and driving its price up or down? Are there holding period rules?

[eries]

No, we do not restrict liquidity in any way. We simply believe that companies should be able to engage with "speculators" as you call them differently from long-term investors. Ultimately volatility isn't a problem in itself - it's the effect it has on corporate decision-making that matters.