ESM tracker

The Enhanced Surveillance Measure is a restriction on how a stock may be traded, not a judgement on what it is worth. A name inside it moves under a tighter price band and a heavier margin, and at Stage II the exchange tightens further still. None of that shows up in a price chart — a stock pinned at its band every session draws the same flat line as a stock nobody wants — so it is worth checking before, not after.